Answer
Two disadvantages of using credit cards are mentioned below-
1) You can easily overspend if you are using credit cards.
2) Credit cards charge high-interest rates on the unpaid balances.
Work Step by Step
A credit card is just a small plastic card issued by the bank but it allows customers to purchase goods and services on credit. It works like cash and that’s why one should consider the theft issues about credit cards. It can be a heavy loss to someone.
The major disadvantage of using a credit card is you may overspend. You probably didn’t get any idea of your shopping as credit cards create an illusion that you are not spending much with the limit you are provided.
One another disadvantage of using a credit card is you have to pay very high-interest rates on the non-payment of due balances. The facts say it would be as high as 30 percent in some cases.
