Credit Cards and Its Advantages and Disadvantages

Credit Cards and Its Advantages and Disadvantages

A huge percentage of the population today are using credit cards, this is the best option than bringing cash for some reasons. However, like any other offer, credit cards bring not only advantages but also disadvantages to all users. Read this post that tells you valuable information which helps you upon using credit cards.

Credit Cards Advantage

As we have just mentioned, there are many people now using credit cards for some reasons, some claim that it is way better as it brings advantages or benefits like as follows. kighall.com has more information on the debt consolidation.

  • If you want to buy goods and can’t afford to pay for it, credit cards are the best and perfect for it. A credit card is like always on the go as well as user-friendly that anyone can simply use it.

  • Using credit cards allows you to get protection; you don’t lose you money as you can have a refund in case needed.
  • You can have it as free of interest or no charge. If you can pay it on time you will not suffer any interest from your loan or debt.
  • You can earn while you shop, credit cards offer points wherein you can save it in your account.

Credit Cards Disadvantage

If there are advantages, there are of course disadvantages that you should be aware of, check these out and be on guard.

  • If you can pay month per month you will be paying high interest. Some companies offer 22% or more.
  • Losing the ability to pay allows you to have a bad credit score and might giving you a lower chance of getting new loans.
  • Some require you an annual fee that can cost as little as 2% or depend on the company that you are having your credit card with. Indeed, credit cards is helpful in many ways, just manage it well in order to avoid the risk.