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Some benefits of using credit cards include (but are not limited to) the following:
* More convenient and safer than carrying cash
* Increased purchasing power without having to specifically request financing
* Rewards/Miles/Points are provided for everyday activities
* Free grace period allows your money to work harder for you
* Option to carry a balance
* Builds credit record for larger purchases
Some disadvantages of using credit cards include (but are not limited to) the following:
* Overspending is easy when using a credit card (don't see money leaving wallet, don't feel money leaving wallet)
* Fees and finance charges (for carrying a balance, missing a payment, going over a credit limit, etc.)
* May be used for fraud/increased chances of identity theft
* Poor choices result in bad credit - inability to get credit for a long time
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∙ 13y ago
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