Benefits
1. Enjoy it in advance. When you see an item you like but don’t have enough money, you can only save money without a credit card. It may take several months to save enough money to buy it. But with a credit card, you can own the item immediately and pay it back next month or in installments.
2. You can participate in various discount activities. You can enjoy various discounts when spending money at merchants that cooperate with the bank.
3. Accumulate good personal credit. Using a credit card for consumption will produce a credit record on your credit report. A good credit record will help you apply for a loan in the future.
Disadvantages
Swiping cards makes you addicted to blind consumption
When shopping, many people choose to swipe cards, which is a very pleasant thing, especially when they are shopping. When using a credit card. It is because of this kind of credit card consumption that it is easy to become addicted, which will lead to some blind consumption. You may even buy unnecessary things, which will undoubtedly increase your financial troubles.
2/3
Pay attention to the interest rate for cash withdrawals
It is not recommended to withdraw cash by credit card unless it is an emergency. Although some bank cards have existing discounts for withdrawing cash, they are only a minority after all. When withdrawing cash with many bank credit cards, not only do you need a handling fee, but you also need to pay a certain amount of interest every day starting from the time of cash withdrawal! In total, it’s still a little bit too much!
3/3
About credit issues.
Here, I can only say that if you use credit cards to spend more and repay them in time, your credit limit will increase with the amount and frequency of your credit card purchases, which will be helpful for your loan purchase. There are benefits to buying a car, buying a house, etc. If you repay overdue and create a bad credit record for yourself, it will bring you some unnecessary trouble, and it will have a great impact on your personal life and work