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Disadvantage of credit purchases

Updated: 10/3/2023
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Wiki User

11y ago

Best Answer

The disadvantages include the fee that you must pay at the end of each month, with a daily compounded interest. Another problem is that some places charge more when using credit cards or debit cards instead of money or checks. Credit can be lost or stolen, and then used for identity theft, without the owner's knowledge.

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Wiki User

13y ago
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Wiki User

12y ago

The major risks of paying credit card bills online is that your credit card information could be intercepted by thieves if the web site you are dealing with is not secure. Also if you pay your bills online the site you are dealing with could be hacked and you information gotten that way.

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Wiki User

8y ago

The biggest danger - is being coerced into using a site that LOOKS genuine - but it in fact a phishing site bent on capturing your account & security details. You should ONLY EVER use web-sites you KNOW are genuine, and NEVER give out any security info unless you can trust the site absolutely.

Remember - genuine sites will NEVER ask for your personal details, or security information by email. If they need to confirm any account information, they will ALWAYS contact you by letter - bearing their official logo.

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Wiki User

11y ago

You have to pay it back with interest so basically paying more for the item so you can pay for it later

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Wiki User

14y ago

Somebody might hack it and take all your money

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Wiki User

10y ago

There are slight risks with making credit card payments online as your details could be stolen and then abused elsewhere. It is important to ensure that the correct precautions are taken.

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