Advantages And Disadvantages Of Using Credit Cards

Everyone who is at legal age can acquire credit cards as long as they have supporting documents that will prove his or her financial stability. There are so many advantages of having this small plastic card since you can immediately get money in case of emergency. Aside from that, many establishments as well as services today are now requiring the details of these debit cards before you can make a reservation. You can do so in places like restaurants, hotels, car rentals, and even reservations for a flight at the same time. And to make shopping very convenient for you, these cards would also let you make purchases through the Internet just by giving your details along with the right answer on some personal and security questions. Moreover, by responsibly paying for your purchases, you can also start building your credit rating as well. By the time that you have built a good credit history, you can easily apply for a loan to make major purchases such as a brand new car or the home of your dreams.

However, there are also some drawbacks if you were to use credit cards as part of your lifestyle. One of the major disadvantages of having your own debit card is that you will have that power to purchase almost anything – even that items that are no longer within your budget’s range. Therefore, you would be obliged to pay it slowly as the bill comes right at your door every month. As a result, the interest will be charged on your remaining balance and it will keep on growing as long as you have not yet paid it in full. Your credit rating and credit history is at stake if you would no use these debit cards properly. You would eventually end up paying two times more than the actual price of your purchase if you don’t know how to catch up on your debts.


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