Don’t Waste Your Money: A credit card can’t buy you everything - Toledo News Now, Breaking News, Weather, Sports, Toledo

Don’t Waste Your Money: A credit card can’t buy you everything

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(Toledo News Now) -

Think you can charge anything you buy to a Visa or Mastercard? Think again! It turns out there are some occasions when your card will be denied.

During the summer, people are more likely to go on vacation to places they don't normally visit, and there are some places that may not take your credit card.

Remember when Visa used to advertise, "It's everywhere you want to be"? That's not always the case. A new report from Bankrate.com lists several places where a credit card may be denied:

  • At the casino. Most credit cards will not allow you to buy chips. You'll need a cash advance from the ATM.
  • Lottery tickets. American Express and Discover specifically prohibit purchasing lottery tickets with their cards.
  • Online porn sites. Most cards prohibit it, although some savvy cardholders may find ways around it.

Then there are places where you might want to use your card, but you'll probably be turned down by the business itself. You're not likely to be able to use your card to purchase:

  • A new car. Most dealers don't want to pay the 1-2 percent card fee.
  • College tuition.
  • Your mortgage. Most lenders want the money direct from your bank account.

Just think of all the frequent flier miles you could have earned paying off your house!

Remember, anytime you swipe a credit card, the merchant takes on some risk and has to pay a fee. You can see why sometimes they might say no.

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