Advantage and Disadvantage of Credit Card: You must have heard about credit card. Credit card is a plastic card like debit card / ATM card. But often there is a lot of misconception in the hearts of people about credit cards and debit cards, so today we are going to tell you in this post what is a credit card? Which bank has the best credit card? And what are the advantages and disadvantages of all of us with credit cards? Advantage and Disadvantage of Credit Card

Friends, in today’s modern life, where money is very important, transactions with the bank have started to be very high, and every small and big cash business has started happening from the bank itself. This is why banks have introduced facilities like credit cards for their customers. Almost all banks offer credit card facilities to their customers. A credit card is a card in which the bank offers its customers the facility to pay money as a loan.For example: -If you buy any goods using a credit card today, then any bank that has a credit card will pay your money at that time, and you will pay that money to the bank with the credit card after 50 days. You have to do that means that the credit card bank gave the money you bought today and you have to pay that money in the bank after 50 days.Credit cards of State Bank of India (SBI) and HDFC Bank are considered to be the best. Finally we can say that the bank lends in advance to its customers through credit cards. Advantage and Disadvantage of Credit

What is Credit Card

Credit card A debit card issued by a bank is a plastic card like an ATM card, with the help of any person who has an account in the bank, he can exchange money via credit card anytime anywhere.

Can do. Where he can provide any object or any kind of facility. All banks have their own different laws and rules regarding credit cards, which are pre-determined by the banks. Friends, a person who holds a credit card pays for whatever shopping he does in a month, after 50 days to the bank, that is, a credit card holder gets 50 days time to pay.

Who can take a credit card?

Although everyone can take a credit card, but before a bank gives a credit card to its customers, all its bank details see how much your income is and on the same basis, the bank gives you the credit card, and sets its limit. Most government / private jobs, business people use credit cards.If you work in a private company, you can get a credit card by having a bank FD (Fixed Deposit). Most people get their jobs or business banks issued and issue credit cards.

Credit Card Advantage

  • With a credit card, you can shop online from anywhere anytime.
  • You get a discount for shopping with credit cards in many online and offline stores.
  • With a credit card, you can organize your monthly purchases.
  • If you want to buy a similar and you do not have money at that time then you can buy the same at the same time through a credit card and you get 50 days to deposit that money in the bank.

Credit Card Disadvantages:

  • You never feel short of money due to credit card, due to which your expenses are increased.
  • Late payment can cause your credit card score to go down, causing you problems later.
  • If you are not able to pay the credit card to the bank on time, then the bank may impose a higher tax on you.
  • Now-a-days online hacking has increased greatly due to which sometimes credit card gets hacked and you may lose a lot of money.
  • Almost all banks while giving credit cards to their customers say that you have to pay at zero percent interest rate. But instead of this, the bank also applies to many colds, which people usually do not follow and people have to pay more amount.


Please enter your comment!
Please enter your name here