Disadvantages and Advantages of Credit Cards

Credit cards can be incredibly useful for anyone. It is one of the safer ways to pay for your purchases and even if you have bad credit rating, there are ways to get hold of one if you are in need of cash.

One of the main advantages of getting a credit card is that you can use it almost anywhere. You can go to many cash points all around the country, and usually international ones too, and withdraw money using your credit card. You can also pay for purchases in most stores now, so you won’t need to carry around cash.

Another advantage of having a credit card is that you are protected from unauthorized transactions in your account. If someone tries to make a payment with your credit card without your permission, then the credit card company usually notifies you very soon after. They use software to keep track of everyone’s spending and if something unusual is spotted then the card provider will usually call to check that you are aware of the transaction.

You can be sure that you are using a genuine credit card company as the main companies are well known and are trusted all over the world.

If you do happen to find that someone is using your credit card details, then this can be very dangerous for your identity. It is incredibly easy for scam artists to steal your card or get hold of your previous bills. Once someone has stolen your identity, they can ruin your credit rating, cause huge debts for you, and if they pass on your details, there is no way for you to stop them from using your identity for other things. For those who have had their identity stolen, they will tell you how long it takes for the fraudulent activity to stop. To protect yourself against credit card fraudulent usage you should be careful with what and whom you are buying from. If you are using the Internet to make a purchase, then you should always try to that through a respectable and trustworthy business. If you can, you should try to use an online secure payment service such as Paypal, where your banking details will remain safe and unseen by the merchant. Always make sure that any paper statements that you have are either burned or shredded well so that any details on them are not visible. You should never throw away anything that has your details in the normal household waste!