Anonymous asked in 藝術與人文詩詞與文學 · 2 decades ago


What are the advantages and disadvantages of using creadit cards?



3 Answers

  • Anonymous
    2 decades ago
    Favorite Answer


    Advantages and Disadvantages

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    cheaper for short term borrowing: credit cards can be cheaper than a personal loan for short term borrowing - interest is only paid on the remaining debt, not the full loan amount.

    greater flexibility: you only need to pay a minimum amount each month or you can pay up to the total outstanding amount.

    no redemption penalties: paying off a loan early can result in redemption penalties.

    interest free credit period: typically, up to 56 days interest free credit can be obtained.

    remote purchasing: enables you to purchase products and services remotely via the internet or phone.

    additional benefits: many cards offer additional benefits such as additional insurance cover on purchases, cash back, air miles and discounts on holidays.


    expensive cash withdrawals: withdrawing cash from a cashpoint can be very expensive.

    insufficient credit limit: you may not be able to obtain as much credit as you want.

    easier to get into debt: can encourage the purchasing of goods and services you cannot really afford; supports a 'buy now, worry later' mentality.

    open to fraudulent use: using a credit card, especially remotely, introduces an element of risk as the card details may fall into the wrong hands resulting in fraudulent purchases on the card. [more on fraud]



  • kagome
    Lv 4
    2 decades ago


  • 凱凱
    Lv 6
    2 decades ago

    The advantage side is you dun have to take too much money and almost work all over the world.

    Disadvantage side is people are greedy.

    They will let money fly as soon as possible.

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