Because the invention of credit card is like a double-edged sword, it can solve the temporary economic crisis. However, the purpose of issuing credit cards is to make money. Once the interest-free repayment time is exceeded, it will charge high interest, usually five ten thousandths of the daily interest.

the specific disadvantages of using a credit card are as follows.

1. blind consumption

swiping a card is not like spending money one by one like paying cash. When you swipe it, you don't feel anything. A few figures lead to blind consumption and spend money like water.

2. Excessive consumption

Notebooks, digital cameras and smart phones are phased in. While enjoying your favorite items in advance, you should also consider whether you can repay them.

3. High interest

If you can't handle your credit card, and you can't repay it on time when the final repayment date comes, the bank will charge you high interest. (The minimum repayment of a credit card in the first month shall not be less than 1% of its overdraft amount in the current month)

Extended information:

Credit card security issues

Due to the convenience and rapidity of credit card use and the rapid development of science and technology, the security problems faced by credit cards are becoming more and more serious due to the mechanism of paying first, and all major international credit card groups and global card-issuing financial institutions are facing severe challenges. The security problems of credit cards are mainly divided into the following five aspects:

Credit cards: criminals or criminal groups use fake or invalid cards (expired/lost and invalid/damaged tapes, etc.) to pretend to be genuine cards and directly deceive merchants or card issuers.

cardholder: the card is improperly kept/handled (expired/invalid credit cards are not destroyed, or lost and not immediately invalidated, etc.), and personal identity information is inadvertently stolen or defrauded. In order to avoid such problems, citizens should not easily provide personal identification information, and it is best not to entrust others to handle credit cards.

consumer merchants: the service staff overshot the cardholder during the consumption process, or stole his credit card information to other merchants for consumption. This situation can happen whether it is a physical business or a network virtual business.

Baidu encyclopedia-credit card