Question

What are the benefits of using a credit card? What are the drawbacks of using a credit card?

Answer 1

Benefits
Convenience -- Credit cards can save you time and trouble--no searching for an ATM or keeping cash on-hand.
Instant cash -- Cash advances are quick and convenient, putting cash in your hand when you need it.
Record keeping -- Credit card statements can help you track your expenses. Some cards even provide year-end summaries that really help out at tax time.
Drawbacks
Overuse -- Revolving credit makes it easy to spend beyond your means.
Unexpected fees -- Typically, you'll pay between 2 and 4 percent just to get the cash advance; also cash advances usually carry high interest rates.

Answer 2

http://www.360financialliteracy.org/Topics/Credit-and-Debt/Credit-Cards/Advantages-and-Disadvantages-of-Credit-Cards

Answer 3

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Answer 4

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