Good-Guy1
Active member
Credit cards are the kind of financial instruments that allow people to buy products and goods. They are a kind of instruments that offer the "buy now, pay later" facility to buyers. usually the bank is the kind of institute that pays on the behalf of the customer. This means that the customer might need to have a credit history. There are many reasons for why people should stop using credit cards in the first place as there are many disadvantages of using credit cards.
You Have To Pay Interest
Many people might be enticed to buy products using credit cards. However, the fact of the matter is that you have to pay interest when it comes to buying products using a credit card. This is one of the biggest disadvantages of using a credit card.
The Interest Rate Keeps Increasing
This is also one of the major disadvantages as well. The interest rates keeps increasing every year, as the credit card company needs to deal with and keep up with the inflation rate as well. They have to deal with other expenses and increasing the interest rate may seem like the only option for them. This affects the consumers in a really awful manner. So what are some other disadvantages of using a credit card?
You Have To Pay Interest
Many people might be enticed to buy products using credit cards. However, the fact of the matter is that you have to pay interest when it comes to buying products using a credit card. This is one of the biggest disadvantages of using a credit card.
The Interest Rate Keeps Increasing
This is also one of the major disadvantages as well. The interest rates keeps increasing every year, as the credit card company needs to deal with and keep up with the inflation rate as well. They have to deal with other expenses and increasing the interest rate may seem like the only option for them. This affects the consumers in a really awful manner. So what are some other disadvantages of using a credit card?
