The Main Features of Credit Cards
The invention of credit cards like a double-edged sword. It can solve the temporary economic crisis but the bank issued credit cards to make money. Once the time of interest-free repayment has been exceeded, you will charge high interest which is generally five-tenths of a million per day. Here are the advantages and disadvantages of credit cards.
Advantages
You don't need a deposit to overdraw your spending and enjoy an interest-free period of 20-56 days. As long as you pay it back on time, you won't charge interest.
Swipe cards when shopping is not only safe and convenient but also gives points or gifts.
The card is available for discounts for purchases at the bank's special merchants.
Accumulate personal credit and add a record of integrity to your credit file for a lifetime.
Credit cards are universal. Withdrawals or purchases can be made at ATMs and POS machines with UnionPay logos. (Note: credit card is only suitable for consumption. Don't take cash. Because the cost of cash withdrawal procedures is very high, it is not cost-effective)
Some credit cards will give you points when you make Consumption and withdrawal and a variety of benefits and sweepstakes are waiting for you throughout the year. (Most credit cards pay online without points, but online shopping payment is very convenient and fast)
Free monthly billing statements so that you can transparently keep a breast-spending.
Unique subsidiary card function for couples to manage money together. You can also control your child's financial expenses.
Free choice of a card of double currency form throughout the world. Overseas consumption can be repaid in domestic currency.
24-hour telephone service. Zero risk of loss of card with immediate effect.
Use third-party platforms for business cooperation to provide discounted services to cardholders.
Disadvantages
Swipe cards lead to blind consumption and a lot of unnecessary consumption.
Swipe swiping leads to overconsumption. When you buy a laptop camera smartphone in installments, you'll have to consider whether you can afford to pay it back.
The interest on the credit card is very high. If you can't take care of your credit card, you won't be able to pay it on time when the final repayment date comes. The bank will charge you a high interest rate. (The minimum monthly repayment of the credit card must not be less than 10% of the overdraft amount for the current month)
Credit cards are subject to an annual fee. Credit cards basically have an annual fee but basically have an annual fee-free policy. But you don't swipe your card for a year to reach the bank's designated number of times, and you'll be charged an annual fee.
Credit cards are basically the default password-free swipe spending, which can easily be lost or stolen by others to cause unnecessary trouble or loss. In fact, credit cards can also apply for a password to spend money - it depends on how you manage your credit card. Of course, many people don't cancel their accounts after writing off their credit cards because of lack of experience in this area. It's not worth reapplying for a credit card overdraft by some outlaws.
Improper use of credit cards affects personal credit. Long-term malicious arrears naturally affect personal credit history and even be blacklisted by banks. In the future, individuals lending money to the bank are likely to be rejected by the bank.
Credit card repayments are a hassle. Banks are often overcrowded and it's a hassle to go to the bank every month. Online repayments are not for everyone.
It's a hassle to cancel your credit card. Although credit cards have an interest-free period, they are only for credit card consumption. There is no interest-free period for cashing out and there's a handling fee.
