Credit and debit management By the phoenix

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Credit and debit management By the phoenix

Advantages and disadvantages of using credit cards

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Table of Contents

Introduction

Advantages

Disadvantages

Conclusion

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introduction

shamiza

harlina

de’anna

farhanah

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What do you understand about the advantages and disadvantages of credit cards ?

THE USE OF CREDIT CARDS IS INCREASINGLY COMMON TODAY. AS A CONSUMER IT IS IMPORTANT FOR US TO REALISE AND UNDERSTAND THE ADVANTAGES AND DISADVANTAGES OF USING CREDIT CARDS.

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The advantages of credit cards usage:

Easy to use for cashless payment

Provides repayment service with interest free within 20 days from statement date

Gives rewards, gifts or promotion upon usage or application

Provides cash withdrawal service from ATM anytime

Does not require us to carry a lot of cash

Convenience of buying goods and services online

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Easy to overspend exceeding repayment ability

Impose preliminary fees on cash withdrawal

Incur charges such as annual fees, finance charges(interest), cash advance interest charges and late payment charges

High risk of credit card fraud

The disadvantages of credit cards

Some credit card imposes annual fees

Some stores do not accept credit payment

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Sources we uses

The textbook

Resource book

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FORM

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Thanks!

H O P E T H I S C A N H E L P Y O U U N D E R S T A N D T H I S T O P I C V E R Y W E L L.