Why this personal finance blogger regrets using a credit card to make the down payment on her first car

  • 📰 CNBC
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 72%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Why this personal finance blogger regrets using a credit card to help buy her first car.

and not much money in her wallet, she called her father in Jamaica to see if he could assist.

"Not only do you have to make a payment on a car, but now you also have to make this double-digit interest payment on the credit card as well," she says. "Unless you have the money readily available to pay off [the card] immediately, don't do it," she says.In Wells' experience, she says car dealerships often make it really easy for you to use your credit card but don't be fooled by it.

Having immigrated to the U.S. from Jamaica by herself at 17, Wells also wasn't aware of the varying interest rates you can be charged. When she was offered an 11% interest rate on her car loan, she thought that was normal.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Dont read, the answer is because it's stupid

Mayor Durkan suggests Marshall Law may be on the way. Will the markets collapse prior to the election, as Trump continues to signal he will not accept the election result.

Cuz she used a card that had no cash back or points?

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why Joe Biden's so-called 'war on the suburbs' is not a real thing - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Joe Biden will raise taxes on the middle class The term is a racist dog-whistle used from way back. Media accessory 😂😂😂
Source: BusinessInsider - 🏆 729. / 51 Read more »

Why divorces could spike after COVID-19, according to a divorce lawyer - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. That would be cool !!
Source: BusinessInsider - 🏆 729. / 51 Read more »