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What is credit card Pros and cons 

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What is credit card Pros and cons

Its a paper card looks like a ATM card but works opposite in credit card you can buy any thing without paying on time of purchase.

But in ATM card you have to pay through your account.

You have to return money to bank in the period of time that would be 25-30 days.

If you don’t pay it back in that time period, you’ll have to pay interest — a percentage of the money you owe the bank — on top of what you borrowed.

Some people love credit card but some don’t both have their own satisfaction, What is credit card Pros and cons 

Pros of Credit Cards

More purchasing options

 it gives you credit to more purchase you can also use it online payment.

Faster to use.

It’s fastest way to pay because you don’t have to count only you have to swipe.

Ability to pay in installments.

You can use it for pay through instalment means you don’t have to pay total amount at once with this you can pay in in small amounts.

Funding for emergencies.

While not the best option for covering an emergency, a credit card can help you cover an unexpected expense.

if you can’t afford to pay it from savings and you need to pay in emergency time.

Ability to earn rewards

You can earn rewards that can be used for cash, gift cards, miles, or other merchandise.

The more you use your credit card, more you earn rewards.

You can redeem your rewards as you go or save up for a bigger redemption.

Ability to finance items for free

Many credit cards come with 0% interest on purchases and balance transfers for an introductory period of at least six months. That is also called no cost EMI.

No need to carry cash.

The most  of places accept credit cards, which means you don’t have to stop by the ATM to pull out cash before going out.

Cons of Credit Cards

Except all  benefits that come along with using credit cards, there are some downsides that may turn you off.


Temptation to spend more than you can afford.

Credit card gives you extra power to purchase more than you have but sometimes it is dangerous.
Because I may cross the limit and after that you can’t pay .

They reduce your future income.

Credit card give you power to purchase but the mane drawback is you can’t save money because when you earn you have to pay EMIs.

Fees and interest can be expensive.

Depending on the credit card type and company and how you use it.

your credit can cost hundreds of rupees over the course of a year.

This is why understanding the credit card terms is so important  so you should know how to avoid credit card fees.

Potential for credit card fraud.

Never share your credit card details to any one this is the only way to protect.

Misuse can ruin your credit score.

Your credit score is tied directly to how you use your credit card.

If you run up big balances and pay your credit card late, your credit score will be impacted.

Type of Card card

  1. Business
  2. Personal
  3. Student

Card Network & Issuers

  1. American Express
  2. Discover
  3. MasterCard
  4. Visa

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1 thought on “What is credit card Pros and cons 

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