Credit cards can be very useful tools if you use them the right way. But they also come with their dangers. Richard Barrington, writing for FiveCentNickel.com, lists the possible side effects of credit cards. They start with the added costs when you don’t pay off your debt on time. If you allow interest to accrue on your credit card charges, you are essentially just paying more for the same goods and services you are buying with them in the first place.
And while credit cards might allow you to buy something you might not have been able to afford without them, you have to question whether its smart to buy something you can’t afford at all. For more credit card side effects, click here.