Credit card is a type of loan, in which the spending limit is fixed, after spending which the cardholder pays that amount to the bank in the form of a bill. Although this card is easily available to the working people, it is a little difficult for the common people to get it, but nowadays some private banks are offering this card to the common people also. If you are thinking of taking a credit card from any bank or have already taken this card, then you must know what are the advantages and disadvantages of credit cards . So let’s know quickly what is the delay in credit card Advantages and Disadvantages of Credit Card.

Benefits of Credit Card

Along with online shopping on any National International website, bill payment can be done through swap at hotels, restaurants, petrol pumps etc.

With the help of credit card, air ticket, train ticket, cinema ticket book, mobile, ditch etc. can be used for recharge and booking.

By paying the credit card bill on time, the credit score improves, after which the chances of getting an instant loan from the bank increases.

Shopping with a credit card earns reward points and cashback, which can be used for your next purchase.

A separate annual fee is charged by the bank on the credit card, but at present some banks are issuing credit cards without fees.

Credit card holders can easily buy any item on installments (EMI). The amount of which is paid in automatic installments through credit card.

It helps in making budget, because every month from the credit card bill one can know when, how much and from where the shopping has been done.

Disadvantages of Credit Card

Banks charge many hidden charges and fees for credit cards, which are not disclosed by the bank.

In order not to pay the credit card bill on time, a fee is charged from the cardholder in the name of late payment.

You may have to face fraud on international websites, because the bank monitors the payments made mostly in the country.

On purchases exceeding the credit limit, interest is added to the bill along with additional fees. And if the bill is not paid on time, interest keeps getting added every day.

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