Using credit cards for groceries is a dangerous trap. By deferring the cost of food you purchase today until another day, you run the risk of bloating your account with an unpaid balance. When you put off the cost of groceries purchased with a credit card, you mortgage your future.

As I was poking around the website of a credit card company (who shall remain nameless) yesterday, I ran across a Special Promotional Rate Offer of 1.9% for “new qualifying purchases made at Grocery Stores” … this made my stomach turn … for this was the very same company that’s promised to crank up the rates on my account.

Buying those groceries on a credit card with a promotional 1.9% rate might be attractive in the short run, but it’s an evil lure. The credit card companies are betting that a certain percentage of folks will jump at the offer out of desperation. When the promotional rate runs out and the balance is still on the account, those companies will automatically crank up the APR by 1500%.

If you have no other choice but to buy your groceries with a credit card, do everything that you can to pay off the cost of the groceries as soon as the bill comes due.