In today’s credit card society, many people like to rely on credit card payments, it is undeniable that credit card brings a lot of convenience, and help many people solve a temporary economic dilemma, so I believe most people can point out two or three advantages of a credit card, such as convenience, low-cost loans, instant cash, purchase protection, etc. But every coin has two sides, including this one. Enjoying these advantages, while we also need to bear the consequences it incurred. Today, I will share some disadvantages of a credit card, hope that can help you.

As far as I know, credit card deceptive marketing is also quite universal, maybe the people around you have been a victim, or is about to become a victim. If you do not want to become one of them, I guess that you will be interested in the following statements.

Generally speaking, in order to issue their credit card, these credit card companies usually offer some incentives. But in recent years, with the competition getting more and more intense, all kinds of marketing tactics are almost exhausted. Now let us have a look at these commonly tricks.

1. Getting cash back

Using a credit card, the promise of getting cash back is so tempting. Sure, the incentive rates may not be a lot of money, but even if you have enough money, you’ll probably find it enticing. Earning money just from making purchases, you’ll actually do it anyway.

2. Gifts and exclusive discounts

Another marketing ploys used by some credit card companies is giving presents, such as umbrellas, gift certificates, food vouchers, luggage cases and so on. There are companies that have undeniably mastered the art of subtle bribery to attract potential clients.

In addition, in order to flatter their product, these credit card companies often say their product is exclusive and incomparable, the lowest cost, to prove that their products are most affordable, they will also offer some extra discounts that can be used at different establishments.

3. Low-interest rate

Every credit card companies like to claim that we have the lowest interest rate, but in fact, we could not possibly survey all company’s interest rate, plus, their salesman are also used to speaking a lot of artful talk, so many people may be easy to be cheated.

Except the above frauds, credit card also have some obvious disadvantages. Maybe you guys have been very familiar, but please allow me to repeat it again.

Overuse

Revolving credit makes it easy to spend beyond your ability.

The risk of overcharging

Some informal deals may cause some overcharging situation, in order to ensure that you haven’t been overcharged, you may need to save your receipts and check them against your statement each month.

High-cost fees

Your purchase will suddenly become much more expensive if you carry a balance or miss a payment.

Unexpected fees

In general, you’ll pay between 2 and 4 percent just to get the cash advance; also cash advances usually carry high interest rates.

Illusory benefits

In fact, the high interest rates and annual fees associated with credit cards often outweigh the benefits received. We do not obtain any extra earnings they claimed.

Exacerbating your debt burden

Many users are using credit more than ever before. If you charge freely, you may quickly find yourself in over your head—as your balance increases, so do your monthly minimum payments.

So-called “low rates”

At first, Low rates may be an attractive option, but they last only for a limited time. When so-called low rates expires, the interest rate charged on your balance can jump dramatically.

Once you guys gained an insight into these tricks, you may not be so obsessed with the credit card payments. In recent years, compared to credit card payment, another payment way is becoming more and more popular, namely the third-party payment platform. At present, there are many people like to using Alipay, wechat pay, paypal, Epay, Perfect Money, etc. Using the third-party payment platform, do not carry any card, just use your mobile phone, you can complete all transactions. It is more convenient for us to use this new form of payment ways.

However, for these similar third-party payment platforms, we may be not easy to make a choice. From the geographical factors, Alipay and WeChat Pay seem to be more popular in China, although another platforms like Paypal, Epay, Perfect Money, etc, are aimed at the global market, they still have some typical differences. Paypal now have some good reputation, but owing to its customer-centric strategy, so many users may not like it, especially some merchants.

In contrast, Epay may be more popular, compared to the perfect money, Epay payment platform has a lower rate, as low as 1%, in addition, Epay can offer multiple transactions, such as pay online, receive money, deposit & withdraw, exchanger, virtual card, etc. Furthermore, Epay also allows you to use multiple payment options, like OKPAY, Payeer, bitcoin, Perfect Money, Webmoney, Paypal, Western Union, Wire transfer, MoneyGram, Ria Money transfer, etc.

The core business also includes the payment gateway, it is said that Epay can provide the multiple payment gateways, which are specially designed for shopping cart/ shopify/woocommerce/whmcs. Integrating with API/Super SCI is for free, it means that you can freely get one or multiple payment ways.

Epay now has more than 45,0000 registered users, fast and reliable, transparent trading environment make Epay win high praise. I believe that Epay will also become better with each passing day.