Here Are Its Pros And Cons
get easy access to credit
is very important as it allows banks to view an active credit history, based on your card repayments and card usage.
rewards, cashback points, travel miles to users.
several purchases, which is cheaper than taking out a personal loan to pay for say a television or an expensive refrigerator.
The amount displayed at the top of the statement is minimum due and not the total amount due and this often confuses customers.
which can become expensive collectively such as late payment fees, renewal fees, processing fee, etc.
and the easy availability of credit can make it difficult to keep a tab on your expenses.
and it is very easy to gain private information about individuals nowadays and misuse their cards.