Credit Cards are very useful but they can create financial ruin to some people because of their bad. Let’s review some benefits of credit cards:

- Provide the safety of not dealing with cash.
- Offer protection under the Consumer Credit Act.
- Provide “incentive benefits” such as air miles or credit toward future purchases.
- Sometimes give back a percentage of your purchases.
  Credit cards disadvantages:
- People could consume in excess.
- People get too many credit cards, today most people are barraged with new credit card offers.

Advice for credit card use:

1. Never use credit cards as extra money.  Always allocate money from your current funds or monthly income in order to pay whatever you finance off immediately.
2. Read the fine print.  Read the credit terms, the details of the interest rate, membership fees and late fees, which over time can create a negative financial situation for you.