Downsides of a credit card?

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mohamedbelgrave 1 Rep. elliemartin1 edited question

What are the downsides of using a credit card?



elliemartin1 3.67K Rep. elliemartin1 answered

If you don’t pay off your debt in full every month you’re likely to be hit by interest rates. These can be extremely high and dangerous in the sense you could run up a very large debt. You’ll also have to pay a fee immediately for any cash withdrawals.

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