by 
The Curious Bag
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Credit cards are a popular method of payment because of the convenience they offer. However, there are a number of dangers associated with using credit cards.
Tracking Spending
When you pay with a credit card, it can be harder to keep track of how much you have spent. You need to either keep your receipts or check your account balance on a regular basis.
Interest Rates
If you carry a balance, the interest rate on your credit card is extremely high because the debt is unsecured.
Fees
Credit card companies charge a variety of fees, including annual fees, late fees, over the limit fees and balance transfer fees that can add significant costs to your credit card.
Limited Recourse
In the fine print of many credit cards, consumers give away their right to sue and must instead use mandatory arbitration to resolve any disputes.
Rate Raises
Credit card companies can raise your rates for credit problems unrelated to your credit card account. For example, if you make a late payment on a student loan, your credit card company may use it as an excuse to raise your rates.
Source:
Bankrate: Top 10 Hidden Dangers of Credit Cards
Massachusetts Securities Division: The Danger of Credit Cards
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