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Credit cards can give you the shock of your life. Plastic money is what fulfills our life style isn’t it? However there are reasons which can prove it wrong. We have become dependent on the plastic but are they worth it?

Find out some points that disclose the negatives of the pocket size friend who you possess.

• You use your credit card and forget to keep track of it. What happens? Is your memory too strong to retain all the expenditures you made: your available balance, your credit limit on that particular card, so on and so forth. So whoosh goes your credit rating in your ignorance.
• It is definitely the most expensive way of borrowing money. You use it for a simple purpose but actually the purpose is not worth it then the usability of the card remains zero and your liability becomes 100%
• You have a hectic working schedule and by chance miss out on a payment, reason being the chaotic working schedule or loss of memory. What happens? Credit rating goes down.
• Well again too many cards can be very painful when it comes to keeping track of which has been used when and all the relevant details.
• You may face the compound interest problem while transferring balance from one card to another. While the transfer it shows a nominal rate of interest but any new purchase reveals the devil.
• Well the best of all the drawbacks is Identity Theft. Your credit card number can get intercepted over the net or through various felonies. So be on your guard.

Hope the points cover most of the negatives. Incase you have some more informative feel free to comment.

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