Question

List the advantages and limitations of credit card.

Answer 1

Advantages of Credit cards:

Credit cards are convenient and you can easily carry then instead of cash. Apart from that credit cards are accepted by all online shopping portals and you can also use them during your medical emergency and financial losses. Even some banks can also provide you overdraft instant loan on your credit card and you can use them for your business or personal needs.

limitations of credit card

you should not exceed the limit of the credit card and avoid windrowing cash via credit cards because banks can charge you higher rate of interest on cash withdraw.