The Advantages and Disadvantages of Credit Cards
Having a credit card might be very convenient yet its use must be carefully done. Out of 10 credit card users, 8 are having credit debt problems. If you are one who has a credit debt right now and does not have enough cash to pay, Car Title Loans Canada is a title loan company which offers Irricana Bad Credit Loans.
Irricana Bad Credit Loans is an easy and fast loan. You can get your cash in just 24 hours. A bonus to this is that while your loan is pending, you get to drive your car.
For you to be able to maximize the use of your credit card, you should know its advantages and disadvantages.
The Advantages:
1.) Convenience – With a credit card, you can save time. You do not have to search for an ATM machine or keep cash with you.
2.) Expenses are tracked – The statement of credit cards will help you track where your money went and how much you have spent.
3.) Low Cost Loans – Use a revolving credit so you can save.
4.) Instant Cash – Advances of cash in credit are quick and easy. It gives you convenience anytime you need it.
5.) Balance Surfing – There are credit cards with low introductory rates. This will allow you to move balances to lower-rate interest cards.
The Disadvantages:
1.) Misuse – When you spend beyond your means, you already are overusing your card. This will make you pay high interests. Most often, this is the beginning of acquiring a credit debt – when interest rates are already too high to pay.
2.) Unexpected Fees – Cash advances, for the most part, carry high-interest rates. Usually, it covers 2 to 4% to get cash advance.
3.) High Cost Fees – You might wonder why your interests suddenly reach high rates. This happens when you reach a payment. So it is really best that you do not miss a payment.
4.) Paperwork – For you to be accurate, you’ll need to save all your receipts and review them over and over again. This is a way to make sure that you are not overcharged.
5.) Introductory Rates– these rates are offered very low but take note that this low rates are only offered in a few months. When these rates expire, your interest rates already are higher.
6.) Your debt – if you deepen your debt, you will be paying high interest rates. If these debts accumulate, it will be hard for you to pay already. So always make sure to pay your credit on time.
These are the advantages and disadvantages of having a credit card. Now that you already know them, be wiser and keen in your usage.
However, if you are on a credit debt situation, you can choose to take a loan at Car Title Loans Canada. This company offers Irricana Bad Credit Loans.
Irricana Bad Credit Loans is a no credit check loan. If you are interested to avail of this loan, contact them at 1-855-653-5451 or visit their website at Car Title Loans Canada.