Here are the 7 payment methods that you should never use when you are making online or store purchases.

Your financial health should always come first.

Credit Cards

It goes without saying that credit cards can be an expensive way to make a purchase. That $30 takeout order could actually cost you $39.

Card rewards are also not the manna from heaven that some people think they are. Dave Ramsey spelled out the reason that consumers aren’t optimizing their budgets using rewards accumulated from purchases. Read his take here. The best payment method for making a purchase will always be the same: Save up. Pay cash.

Buy Now Pay Later

There are two reasons not to use Buy Now Pay Later plans. First, the ease of making that pricey purchase and paying it over four easy payments can quickly spiral out of control when four payments at $25 is multiplied across numerous purchases.

The second reason is that these short-term payment options are now being reported to the credit bureaus. One missed or late payment can tank your credit score.

Splitting Purchase Price Over Two or More Credit Cards

Tech companies like Apple are offering consumers the option of splitting their purchase over more than one credit card. This means paying double the interest on a single purchase. Is it worth it for a piece of tech that decreases in value? Nope.

Short-term Loans

Some retailers are starting offer short-term loans to compete with the Buy Now Pay Later market. The interest rates are high and the pay off for items that could easily be paid for in cash is low.

Buy Here Pay here

An auto loan on a used vehicle where the payments are made to the dealership rather than a bank or finance company has problems. First, the cars are typically expensive, high mileage used cars with dubious service and accident histories, and with no real warranties. These car lots usually found in economically depressed neighborhoods and target consumers with poor credit histories. They aren’t doing anyone any favors, least of all you. Steer clear.

0% Interest

Furniture companies are famous for this one. They will offer 0% interest on a furniture purchase but one missed payment…even a few minutes late on the day the payment is due and you’ll get back charged for all the once-zero interest. Of all the payment methods, this one is the most common.

Low Monthly Payment

A key sales tactic that retailers and auto dealers use is the low monthly payment. But the catch is this. They will extend the term of the loan to make up for the lower payments. The final price for the products will wind up being higher. If you can’t afford the total cost of the item, then you can’t afford it.