Have credit card of course make our life easier since we can do transaction quickly without have to pay cash. Unfortunately sometime we can not use it well so , it will create the risk of or financial . if you have know the advantages of using credit card. Now it is time for you to know the disadvantages of credit card. In this occasion we will give you some disadvantages credit cards information. We hope the information about disadvantages credit cards below can guide you in using credit card:
1. Overuse–Revolving credit makes it easy to spend beyond your means.
2. High-cost fees–Your purchase will suddenly become much more expensive if you carry a balance or miss a payment.
3. Unexpected fees–Typically, you’ll pay between 2 and 4 percent just to get the cash advance; also cash advances usually carry high interest rates.
4. No free lunch–The high interest rates and annual fees associated with credit cards often outweigh the benefits received. Savings offered by credit cards can often be obtained elsewhere.
5. Homework–It’s up to you to make sure you receive proper credit for incorrect or fraudulent charges.
6. Teaser rates–Low introductory rates may be an attractive option, but they last only for a limited time. When the teaser rate expires, the interest rate charged on your balance can jump dramatically.