Posted on
April 5, 2009
at
8:44 pm
We all know there hundreds of advantages in using credit card. I found some disadvantages in having credit card with us. The disadvanctages as per my observations are as below: 1. we are tempted to use more, that is tempted to spend for unwanted spendings 2. Chances of losing money by disclosing the card outside or internet 3. Once auto bill pay is given to the companies for payment it cannot be cancelled by us, the company involved only can cancel. Friends, please discuss the other disadvantages you feel.
lily Rep Points:
735
Posted on
April 5, 2009
at
10:53 pm
you tend to spend more if you have a credit card. it's also not advisable to withdraw cash from your credit card because of the high interest rate. and if you fail to pay them on your due date, then it will pile up, so it's a must to pay your monthly dues in full.if you're an impulsive buyer, then credit cards will do you no good.
inai Rep Points:
955
Posted on
April 5, 2009
at
11:32 pm
Obviously, having credit card create unnecessary debts and the risk of landing your card in the wrong hands. I do not see the need to use credit card but prefer to use debit card instead. It is more convenient that way.
Posted on
April 6, 2009
at
7:15 am
I think the biggest disadvantage to having a credit card is it encourages people to spend money they don't have.And most credit card companies don't make you pay your bill in full every month so therefore you are creating a bigger bill because of high interest rates.And there is always the possible of your card getting into the wrong hands and creating a financial burden for you.
chez Rep Points:
285
Posted on
April 6, 2009
at
8:01 am
For me the biggest disadvantage of having the credit card is the temptation to sp[end more...more that what one can afford. Many people maxed out the credit limit of their credit cards thereby going deeper in debt.
Posted on
April 6, 2009
at
10:44 am
One disadvantage is that you tend to lose control of your spending and that you go on spending beyond what you can afford to repay. Credit cards also lead people into an unexpected financial difficulty.
Posted on
April 6, 2009
at
10:59 am
The most obvious disadvantage of credit card is that entices and encourages you to buy more than you casn efford.
Posted on
April 6, 2009
at
11:27 am
I agree, one has to be careful while using credit cards. It is very essential to keep an account of all the bills paid through credit card and follow it up...I never use my credit card after i miscalculated once..
Posted on
April 6, 2009
at
11:28 am
I think a big disadvantage of credit cards is allowing people to have them who don't understand what they are or how they work. What I mean is, they are not "
free money" (they are simply the means to acquire more debt). If someone says they will apply for a credit card because they "
need the money," they don't understand what they are getting into. Or, someone who doesn't understand that the interest they pay is on their outstanding
balance each month (and not on whether they actually
purchase anything) is probably going to have trouble.
Posted on
April 6, 2009
at
6:13 pm
You can't control spending money sometimes when you have a credit card. Since you always bear in mind that you can still pay the interest every month.
