Getting a credit card is often an easy way for most people to borrow money over a certain period of time. But like any form of borrowing, it has advantages and disadvantages: Advantages: Flexibility Spreading the cost Interest-free borrowing Safe spending with Purchase protection Improve your credit rating Managing your current debts Gain rewards Avoid foreign transaction fees Disadvantages: Risk of getting into debt Could damage your credit score Penalty fees Penalised for withdrawing cash You won’t always get the advertised rates Promotional offers are only limited