Pro and Cons of credit card

BENEFIT

1. Convenience - easy to use and swipe, much more safer than bring a sum of money.

2. Peer pressure - paying with card show your status and strength of financial especially during having a time with business friend.

3. Rewards - each card have a reward. There are cards that offer plane tickets, sports merchandise, and good old-fashioned cash based on how much you spend on card.

4. Building credit - using a credit card with responsible can help build one' credit score which could mean a better shot at a loan or mortgage down the road.

DISADVANTAGE

1. Late payment - the most important when use the card is no miss or late payment. Late fees, interest, and penalties making monthly payments increase double.

2. Debt - many people sunk in credit card debt with no way out. When debt are getting higher and cannot pay monthly, your name will be black listed in company bank.

3. Hidden fees - no bank will tell you the hidden charges, once you have sign the contract then you will notify the fees and there is no turning back.

4. Over-spending - believe it or not, you will spending more on card especially during shopping. Psychology, you are much aware of your cash balance in wallet than credit card.