The disadvantages of credit cards include the following points:

First, the interest rate on credit cards is usually higher compared to consumer loans.

Secondly, when issuing a card, you need to be prepared for additional expenses, for example, for the annual maintenance of the card, SMS notifications about transactions made by the card, request for account statements, commission when withdrawing credit funds from ATMs, etc.

Thirdly, the possibility of instant purchase the things you want can cause you to lose control of your spending. Therefore, before spending credit funds, you need to once again think about the need for such an acquisition and evaluate your financial capabilities.

Fourthly, when using a credit card in calculations, you need to be extremely careful, since there are cases of double debiting of funds as a result of technical failures or cashier errors. Since such an error is easy to identify, it will not be difficult to return the overwritten amount, you just need to file a claim with the bank.

Fifth, if you decide to part with the card, after restoring the credit limit, do not be too lazy to make sure that there really is no debt on your account. This must be done one month after the account replenishment by requesting a written confirmation from the bank. Remember that even a penny debt can lead to serious fines and penalties, as well as ruin your credit history. Well, and most importantly, be vigilant: do not tell anyone the pin code of your card, and in case of loss or theft of a bank card, immediately block the account by calling your bank.

Remember, compliance with elementary security rules when making bank card payments is the key to your financial well-being.

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