Firstly there are numerous advantages and disadvantages of using credit card as usual for any thing we will have both.
First we will talk about few disadvantages:
You will need proper eligibility to get one.
If you don't have control on your spending it would be a problem.
You will have to penalties if you didn't use it properly or you didn't repay on time.
There will be few charges levied on using credit card (comparitevly high on UPI or debit cards transactions)for few purchases or transactions. (For only a very few).
Now let's talk something good, I mean the advantages
You can rewards or cash backs on your spending.
You will get more offers from the bank on any festive sales or any sales on both online and offline.
You will have a period of 45 days to pay your spending.
You can buy products for EMI with no interest (it depends on the cards ,transactions or may be something). But you cab get products on EMI with an interest of 10%–15%.
If you use any co-branded credit cards like ICICI-Amazon Pay, Axis Flipkart credit card etc you will get additional cash backs or rewards on every spending on the brands and Co brands.And you can get cash back upto 5%.For few it may 4% and for others (1.5% -2%).
And there are other both advantages and disadvantages are there. In my knowledge I have mentioned few major points.
First we will talk about few disadvantages:
You will need proper eligibility to get one.
If you don't have control on your spending it would be a problem.
You will have to penalties if you didn't use it properly or you didn't repay on time.
There will be few charges levied on using credit card (comparitevly high on UPI or debit cards transactions)for few purchases or transactions. (For only a very few).
Now let's talk something good, I mean the advantages
You can rewards or cash backs on your spending.
You will get more offers from the bank on any festive sales or any sales on both online and offline.
You will have a period of 45 days to pay your spending.
You can buy products for EMI with no interest (it depends on the cards ,transactions or may be something). But you cab get products on EMI with an interest of 10%–15%.
If you use any co-branded credit cards like ICICI-Amazon Pay, Axis Flipkart credit card etc you will get additional cash backs or rewards on every spending on the brands and Co brands.And you can get cash back upto 5%.For few it may 4% and for others (1.5% -2%).
And there are other both advantages and disadvantages are there. In my knowledge I have mentioned few major points.
