My parents recently purchased a home that needs some stuff done to it before moving in, and they are asking if I could apply for a home improvement store credit card to make some purchases since they cannot get approved for the few thousand they need (less than $5000). They said they would pay me back every month. I am totally against ever getting a store credit card again after I had one that sucked a lot of money in interest out of me, so I would rather apply for a card that offers 0% interest for the first year or so or use a card I already have.
I personally do not want to get into credit card debt though given I have just recently paid off all my CC balances. For the first time in years, I am CC debt free and I'm very cautious about ever getting into that again.
I don't have a huge savings.. just a few thousand. Should I just give them that instead? Of course it's a risk, but I can at least start building it again immediately whereas the credit card can directly effect my credit score and the interest added along with it.
Submitted August 14, 2021 at 07:17PM by ektachrome_ https://ift.tt/2VWil8b
