Credit is a convenience. Credit cards can eliminate the need for carrying large sums of cash or writing numerous checks. In many locations, a credit card is accepted more readily than a personal check. Using the product while paying for it is another advantage. Some people prefer making payments while enjoying an item rather than setting aside money for a future purchase.
Credit allows consumers to take advantage of seasonal sales or to avoid anticipated price increases.
Interest and finance charges can be claimed as deductions on federal income taxes. Overspending is more likely to occur. Because credit is convenient to use, some consumers fall into the trap of impulse spending rather than planned spending. There is also the tendency to look only at the required minimum monthly payment and not the total amount of the debt. Credit usage commits future income.