Advantage and Disadvantage of Credit Cards in Our Lives

hi ydnac advantages of credit card 1. offer free use of funds, provided you always pay your balance in full,on time. 2. be more convenient to carry than cash. 3. help you establish a good credit history. 4. provide a convenient payment method for purchases made on the internet and over the telephone. 5. gives you incentives, such as reward point, that you can redeem. disadvantages of credit card 1. cost much more than other forms of credit , such as a line of credit or a personal loan, if you don't pay on time. 2. damage your credit rating if your payment are late. 3. allows you to built up more debt than than you can handle. 4. have complicated terms and conditions. for more information on credit cards visit articlealley.com

I only have one credit card. It's quite handy....since we love travelling alot most of the time we book our accomodation by internet and they required credit card for authorization. So, it's really time saving, no hassle with form and paper to fill in. And we used it for gurantee as well....for example when we want to rent a car, they will ask a credit card for guarantee.... or when we went to other countries that has different currency, we don't have to immediately change our cash money to other currencies. Even so, must be carefull when using it....because you must know your limit before everything get out of hand. We did set a limit to a value that we are certain that we can pay the bill.

The obvious advantage of having a credit card is that you'll have currency for emergencies. Especially those which cannot wait like medical emergencies. I keep one credit card for this purpose alone. I don't use it to buy stuffs cause of the interest rates. I'd rather pay in cash.