Credit Card in Telugu - Advantages and Disadvantages of Credit Card | Kowshik

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Credit Card in Telugu - Advantages and Disadvantages of Credit Card | Kowshik

"A credit card can be used for any transaction up to the permitted limit. The card can be used to make purchases online, at gas stations, restaurants, and hotels, among other things. The credit card will have charges after being used. After a predetermined amount, you must pay the balance owed or the minimum amount owed. You only have to pay fees if you don't make the required payment within that time. Therefore, even if your account doesn't have enough funds for a certain period, you can still make a purchase and pay it back after you receive the money.

There are multiple benefits of using a credit card. Credit Card advantages include enhanced financial health, improved credit score, balance transfer, easy loan approval, access to funds in an emergency, and affordable EMIs, among other benefits. Credit cards have a few disadvantages, such as high-interest charges, overspending by cardholders, risk of fraud, etc. There may also be additional expenses such as annual fees, foreign transaction fees, cash withdrawal expenses, etc., associated with a credit card. However, these disadvantages can quickly be neutralised if you manage your finances well and use your credit card effectively.
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