Some people love the concept of credit cards while others cannot stand them. Both have a clear reason to feel the way they do about having a credit card. Before you get one for yourself, it is important to understand the good and bad about getting credit cards. it does not matter the purpose of the credit card, the issuer and user, you will all face the same risks as long as you are using the card.

Here are some benefits of getting yourself a credit card

Increase in purchasing options. You can purchase more products over the phone, through the internet and even in person. When using hard cash, it will be harder for you to do some of these purchases unless you are going for the money order.

Credit cards make everything faster, especially when compared to checks and hard cash. All you need to do is swipe the credit card and everything will be taken care of.

With credit cards, you have several options to complete the payments in instalments. You can pay the basic monthly instalments to clear off your credit card loan or choose to clear the whole balance over a given period of time. Charge cards require you to pay the amount plus interest in full to keep your card or account in good standing.

You get a credit card boost. If you use your credit card correctly and make all the payments in time plus keep your balance low, you can build a great credit card score. This can help you qualify for bigger loans like mortgages in the future.

You can use credit card for financial emergency. Credit cards are one of the best options when it comes to clearing a financial emergency.  Credit card loans are somewhat affordable and easy to get when you have an average credit card score.  The ability to pay the credit card off faster makes t better

With credit cards, you have the right to withhold the payments for any billing errors. If there is an error in your statement, you have the rights to dispute with your credit card issuer as long as you do it in writing. You do not have to pay for the item as long as the issuer has not turned against the dispute. 

Credit cards give you the chance to earn some rewards and use interest promotions. You can get rewards in form of gift cards miles, cash and other merchandise.

The cons of credit cards

They reduce future income.  Every time you use your credit card, you are borrowing money you have not earned yet. This means that a portion of your future income will be used to clear the balance.

The interest and fees can be quiet expensive. This depends on the credit card issuer and how you use it. It might end up costing you hundreds of dollars over the course of one year.

It increases potential for credit card fraud. The thieves do not need the card to steal your info, once the hack a store or website you have used before, they will still your details and use it to make fraudulent purchases.