Business owners should be aware of chargebacks and credit card fraud, which could create a liability. A consumer can open a dispute for a service or product, which could cost the business if the credit card company agrees to refund the purchase. Digital credit card fraud, or card-not-present fraud, is expected to cost retailers $130 billion from 2018 to 2023. Businesses can protect themselves by asking for ID when accepting credit cards and improving online security and variation layers for digital purchases.For consumers, high fees and interest can add up quickly, causing them to pay much more than the original cost of products or services. Using a credit card can also makes consumers more likely to spend increased amounts of money.