Consumer Credit

Advantages and Disadvantages of Credit


  • Allows people to enjoy goods and services now. Then pay for them through a payment plant depending on future income.
  • Can permit purchasing items even when your funds are low.
  • Credit cards are a lot safer then carrying a lot of cash around.
  • Convenience when making reservations for vacations.
  • It provides a 50 day "float" before payment is required to be paid.
  • Some offer rewards.


  • Temptations to Overspend
  • This can lead to some finical problems in some cases
  • This does not increase the purchasing power
  • The cost is a monthly fee and it can quickly add up if you are not carful.


"Credit Advantages, Disadvantages and Common Types." Publication: Credit Advantages, Disadvantages and Common Types. Web. 22 Sept. 2015.

”The Three Types of Consumer Credit." The Three Types of Consumer Credit | The Money Talkers. 13 Apr. 2013. Web. 22 Sept. 2015.