There are a few disadvantages of having a credit card. Many people going further into debt with credit cards. They may forget to pay their monthly bill or just do not pay on time which causes more fees.
When some people have a credit card they forget about their budget. I like to only charge the same amount of cash that I have on hand. If I do not have enough cash for the item, it can wait.
This accompanies putting yourself further into debt. Many credit cards have high interest rates which will cause you to have to pay more money in the long run.
Although you can report stolen credit cards it sure is a pain. It is a bummer to have to deal with credit cards that are stolen and the chance of dealing with a stolen identity.
Many people stress about having credit cards especially if they have more than a couple cards. The more credit cards you have to pay off each month, the more stress it will cause. This is a major disadvantage of having a credit card.
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