The Credit Cards Drawbacks

15 Sep

Be careful to avoid falling into debt and it is important to remember that you are still essentially borrowing money that is not yours. If you fail to pay your credit card bill, you will have to deal with interest charges and credit card debt can easily spiral out of control. You will also damage your credit score which is likely to have some affect on your financial future when applying for other products and services. With this in mind you should never use a credit card as an easy way of borrowing money.

You need to make sure you read the terms and conditions of the card thoroughly and look out for any annual fees and additional charges such as late payment fees, transaction fees and how much they charge you for withdrawing money from a cash machine.