What are the advantages and disadvantages of using credit?

Answer 1

Advantages
- More info for credit report. Responsible credit usage is a good thing.
- Enables you to spend on things that you ordinarily wouldn't have a lump sum to spend (i.e. buying a car).
- Perks (i.e. credit cards and money back, or airline miles).
- Easier and quicker to use (don't have to visit ATM to have enough cash). Just swipe! (another example..gas stations pay-at-the-pump).
- Protection. Stolen cash is gone. Stolen credit can be cancelled and recovered.

Disadvantages
- Some people can't handle credit. Buy things on credit they can't afford then find out they can't pay it back as needed.
- Interest (if not paid off in a timely/planned way) - you end up spending more than you would.

Answer 2

One advantage of using a credit card is that you can buy stuff from ebay, one disadvantage of using credit cards is if like instant gratification and have no money, you will immediately want to buy some junk with your card and will have no money to pay for it, then the credit card companies will almost own you. You will pay them and will get nothing in return and if you do not pay they'll phone you 20 times during the day, they'll phone you at night, they'll come at your work, your life will lose the peace factor. RE: What are some advantages and disadvantages of using credit cards? Have you ever had a credit card? If so, plea? What are some advantages and disadvantages of using credit cards? Have you ever had a credit card? If so, please share some of your experiences with them.

Answer 3

Advantages:
good way to build up your credit (if you are responsible)
good for emergencies (like a broken down car on vacation)
good to order purchases with in case they become damaged or don't come at all you will have recourse with the card co.
Disadvanges:
Too easy to spend more than you can pay back, leading to finance charges

Answer 4

Advantage-easier and faster paying/billing.

disadvantage-you need to pay it back