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CREDIT CARD DISADVANTAGES :: Interest Credit cards can have up to 20% interest or higher. It can take you years to pay off a balance if you only pay the minimum payment. Compounding interest will suck your finances dry. :: Late Payment Fees A late payment fee can be up to $35 dollars or more just for being a couple days late on a payment. This can add up if you are in not in the habit of paying on time. :: Balance Transfer Fees These usually are 3% of the balance transfer. Keep in mind that the 3% is not annually, but a one-time charge. This can definitely add up, especially when they start charging 20% interest on your balance transfer fee. :: Over-the-Limit Fees This can be another $30 charge or more. Leave it up to credit card companies to let you go over your limit and then hit you with a charge. :: TIP - The higher your credit score, the more money you save. Owning several credit cards can raise your credit score. As you can see, credit cards have more advantages then disadvantages. And only advantages if you use them with Good Credit Cents. Email Us  |  Questions  |   Site Map © 2005 Good Credit Cents. All rights reserved. Website Design By Visual i Design