Advantages to using Credit Cards Convenient payment tool Useful for emergencies Often required to hold a reservation Able ...
Disadvantages to using Credit Cards Interest can be costly when  a balance is revolved Additional penalty fees may apply T...
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Advantages and disadvantages of using credit

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Advantages and disadvantages of using credit

  1. 1. Advantages to using Credit Cards Convenient payment tool Useful for emergencies Often required to hold a reservation Able to purchase “big ticket” items and spread out payments Protection against fraud Opportunity to establish a positive credit history Online shopping is safer than using a debit card because of the Fair Credit Billing Act protection Possibility of receiving bonuses, such as frequent flyer miles or cash rebates Advantages
  2. 2. Disadvantages to using Credit Cards Interest can be costly when a balance is revolved Additional penalty fees may apply Tempting to overspend Risk of identity theft Responsible for lost/stolen cards Applying for multiple accounts can lower your credit score Disadvantages
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