Question

What are the benefits of using a credit card? What are the drawbacks of using a credit card?

Answer 1

Answer:

Benefits:

• Opportunity to build credit.Earn rewards such as cash back or miles points.
• Protection against credit card fraud.
• Free credit score information.
• No foreign transaction fees.
• Increased purchasing power.
• Not linked to checking or savings account.
• Putting a hold on a rental car or hotel room

Drawbacks:

• Interest charges. Perhaps the most obvious drawback of using a credit card is paying interest. ...
• Temptation to overspend. Credit cards make it easy to spend money — maybe too easy for some people. ...
• Late fees. ...
• Potential for credit damage.

Explanation:

here's ur answer!!

thanks!!