Credit is a type of forced savings. Disadvantages Credit almost always costs money. You may overspend. You may be discouraged from comparison shopping. Credit contracts are difficult to understand.
Overuse leads to a poor credit rating.
However, they may not do so. A few lenders are ignorant of the law while others may attempt to hide the true interest rate. In some cases, the exact annual percentage rate will not be known until all the specifics of the transaction have been decided. You must be sure that you are being quoted the annual percentage rate and that it is the rate written into the credit contract. You can then compare rates for the best deal.