Regarding credit cards, there are always debate on its good and bad sides.
To me, the benefits of credit card outweighs the drawbacks.
The main disadvantage of credit card is that the users spend beyond their ability to pay back in full, resulting in late payment charge and high finance charge from 15% to 18% per annum.
As long as you plan your credit card spending carefully, I think credit card is a great tool that helps in financial planning.
Here are the advantages and disadvantages of credit cards.
