1. Benefits of credit cards

1. You can enjoy discounts when using the card at the bank’s designated merchants;

2. Swiping your card when shopping is not only safe, Convenient, there are also points gifts;

3. Accumulate personal credit and add integrity records to your credit file, which will benefit you throughout your life;

4. You can use overdrafts without deposits , and you can enjoy an interest-free period of 20-56 days and pay back on time without any interest charges.

2. Disadvantages of credit cards

1. High interest rates

If you don’t know how to take care of your credit card, you will not be able to repay as scheduled when the final payment date arrives. Banks will charge you high interest rates.

2. Blind consumption

Swiping a card is not like spending money one by one like paying with cash. Once you swipe it, you don’t feel anything, just a few numbers, which leads to blind consumption and spending money like this. Running water.

3. Annual fees are required

Credit cards basically have annual fees, but they basically have annual fee-free policies. For example, China Construction Bank only needs to swipe the card three times a year to waive the fee. However, if you do not swipe the card the number of times specified by the bank in a year, the annual fee will be charged.

4. Impact on personal credit record

Long-term malicious debt will naturally affect personal credit record and even be blacklisted by the bank. If you want to borrow money from the bank to buy a house or a car in the future, you will have to There is a possibility of being rejected by the bank.

5. Credit card fraud

Credit cards are basically used for payment without password by default. This makes it easy for someone else to steal your credit card when it is lost or stolen, causing unnecessary trouble or loss. At the same time, you can also apply for a credit card to use the password to make purchases. It depends on how you manage your credit card. Due to lack of experience in this area, many people have canceled their credit cards without canceling their accounts, and some criminals have reapplied for credit card overdrafts. . This will make it easier for you to judge.