credit advantages/disadvantages

By: Caleb Fairbrother

advantages to credit

-Credit cards can make it easier to buy things.

-Credit cards may also offer you additional protection if something you have bought is lost, damaged, or stolen.

-Having a good credit history is often important, not only when applying for credit cards, but also when applying for things such as loans, rental applications, or even some jobs.

-Credit cards can also be useful in times of emergency.

-In addition to the benefits listed above, some credit cards offer additional benefits, such as discounts from particular stores or companies, bonuses such as free airline miles or travel discounts, and special insurances (like travel or life insurance.)

disadvantages to credit

-The biggest disadvantage of credit cards is that they encourage people to spend money that they don't have.

-Credit card companies charge you an enormous amount of interest on each balance that you don't pay off at the end of each month.

-Like cash, sometimes credit cards can be stolen.