What are the advantages&disadvantages of credit cards?
Credit cards have replaced cash and checks for many people as the preferred payment method. While the convenience of credit cards are a plus, there are some disadvantages to their use.ConvenienceCredit cards are beneficial because you can carry one piece of plastic rather than having to carry cash or checks. With one swipe of a card, your bill is paid in full rather than having to count out exact change.SecurityIf you lose your credit card, you can call the company to cancel the card and prevent any loss of money. If you are carrying cash, it is unlikely that you will be able to recover the lost funds.RewardsMany credit card companies offer cash back, miles or other rewards programs for people who use their cards. The more you spend, the more rewards you earn.Lack of AccountabilityWhen you spend cash, the amount you have in your wallet decreases, limiting the amount you can buy.
