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September 10, 2018

Don't use credit card to pay for college

  • Unless you have a plan to get rid of your balance fast — and you've already exhausted every other option — paying for college on credit doesn't make the grade.

    Sure, your college may allow students to pay for tuition and fees with a credit card. But, like partying the night before a midterm, it's probably not a good idea.

    Paying for anything with plastic requires a plan to get rid of your balance fast. That keeps interest charges from piling up. Plus, many schools charge “convenience fees” that could cost more than the value of any rewards points or cash-back bonuses you're hoping to get on your card.

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