Credit Card- a card which allows you to borrow money up to a certain limit, receive a monthly statement.


	Credit Card- a card which allows you to borrow money up to a certain limit, recieve a monthly statement.
	Advantages If you pay the total each month you don't pay any interest Allows you to purchase goods you can't afford outright Available at most banks Allows you to spread the cost of an expensive purchase out. Purchase protection from the credit card company on assets between £100-£30,000	Disadvantages Most banks run a credit score check, you may need to earn a certain amount to be eligble. Can encourage overspending and getting into debt Can encounter fees and extra charges if you spend over the limit Some have restriction on where they can be used or fees.
	Evaluation

Most banks run a credit score check, you may need to earn a certain amount to be eligble.
Can encourage overspending and getting into debt
Can encounter fees and extra charges if you spend over the limit
Some have restriction on where they can be used or fees.

Get Revising