Credit cards give you access to a revolving line of credit. That sounds great, but it has some significant drawbacks. If you have a large credit line, you could be tempted to spend more than you can afford and quickly rack up credit card debt. Credit cards also tend to have interest rates. As of May 2021 — the most recent available data — the average interest rate on all credit cards that assess interest was 16.30%. With such a high rate, it can be difficult to get out of debt.