Since most people expect their income to rise, they expect, not only to be able to make payment on past credit purchases, but also to make new purchases. Advantages of credit. Consumer credit enables us to have and enjoy goods and services now and to pay for them through payment plans based on future income. Credit cards permits the purchase of goods even when funds are low. If you have established credit, you are better equipped to cope with financial emergencies.
Some people consider it safer to use credit cards rather than to carry large amounts of cash.
Some people like the convenience of paying for several purchases with one monthly payment. Credit can indicate stability. The fact that lenders consider you a good risk usually means that you are a responsible individual. Disadvantages of credit. If you don't repay your debts on a timely basis, credit has many disadvantages.