The advantages and disadvantages of applying for a credit card are as follows:

1. Advantages of a credit card:

1. You can overdraft consumption without deposit, and you can enjoy 20- 56 days interest-free period.

2. When you swipe your card when shopping, you will receive points as gifts.

3. You can enjoy discounts when using the card at the bank's designated merchants.

4. Accumulate personal credit and add integrity records to your credit files.

5. You can withdraw money or make purchases by swiping your card at ATM machines and POS machines with the UnionPay logo.

6. Some credit cards can collect existing points.

7. Free monthly mailing of statements.

8. The supplementary card function allows you to manage finances simultaneously and control your children’s financial expenditures.

9. One card with dual currencies, overseas consumption can be repaid in domestic RMB.

10. 24-hour service hotline, loss report takes effect immediately.

11. Cooperate with third-party platforms to provide cardholders with preferential services.

2. Disadvantages of credit cards:

1. Credit cards can easily lead to over-consumption.

2. Credit card annual interest rates are higher.

3. Credit card debt can cause mental stress.

4. If your credit is not good, the cost of borrowing money will be higher, or you may even be unable to borrow money.

Extended information:

1. The method of replacing a credit card after it expires is as follows:

1. You can collect it in person at the bank, taking Industrial and Commercial Bank of China as an example:

When your credit card expires, the bank will automatically replace it for you one month before the card expires. For international credit cards, credit cards, and credit cards, the annual fee will be automatically deducted from the card through the system. You can check the new card through the 24-hour service hotline 95588, and the international card service hotline is 010-95588.

2. The bank will send you a new card directly

Credit cards are generally valid for 3 years, and the valid period of use is indicated on the front of the card. Before the credit card expires, the bank will proactively send you a new card without any formalities.

2. Will the credit card be automatically canceled if you do not replace it after it expires?

1. After the credit card expires, it will automatically become invalid and can no longer be used, but the bank will not automatically cancel the card. The bank will usually contact the customer about two months before the card expires and ask if the customer wants the bank to send a new card. If the customer agrees to renew the card, the bank will mail the new card to the customer before the card expires and waits for the old card to arrive. After the period, customers can activate new cards for use.

2. Unless the customer does not plan to use the new card anymore, he can explain to the bank that he does not want the bank to send a new card, and then apply to cancel the card, and the bank will help cancel the card.

3. If you want to cancel the card, you need to pay attention. The card must have no bill arrears and no overpayment before it can be canceled successfully. Therefore, before canceling a card, it is best for customers to check their card to see if there are any unpaid bills or excess overpayments. If so, you need to pay the bill first