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Essay On Advantages And Disadvantages Of Credit Cards

755 Words4 Pages

There have a lots of advantage and disadvantage use credit card. First advantage of credit card is convenience. Credit card can assist you to save your time and also avoid you from trouble. That means you cannot searching for an Automated Teller Machine (ATM) or keeping cash in hand because it more dangerous keeping cash and crime can happened anytime. Secondly credit card also become as instant cash and anytime you can use and it as cash advances. Thirdly, credit card as record keeping. The credit card reports can show your expenses and some of credit card provide year-end reviews of your expenditure that show measurement breakdowns of how much you consumed on retail, dining, entertainment and so on. Then, if we use credit card it have a small …show more content…

If you still have balance from month-to-month, you’ll pay higher interest charges. Purchase and cash advance also have the higher interest rates, so you can end up paying hundreds or thousands more than you initially charged in interest if you’re unable to settlements the payment for each month. The next disadvantage is credit damage. Missed credit card repayments and continuing debts are verified on your credit file and then will be influence your chances of getting a loan down the track. So for the solution you can check are guideline on how to improve your credit file for some tips. Credit card fraud maybe one of the disadvantage for using credit card. There have classify of fraud schemes that aim credit cards. While you can be compensated for illegal transactions on your account, trade with credit card fraud can still be are stressful experience and also timewasting. In contrast credit card also can be stolen like cash. It may be physically stolen and if you drop your wallet and then someone may be take your credit card number from a receipt, over the phone, or from a Web site and use your card to rack up your debts. At the end of month you will receive monthly statement, so can trace your credit card number if you don’t release your credit card has been

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