Using credit for purchases can lead to overspending, overdraft fees, and credit score implications.
Overspending is a common risk of using credit to make purchases. This occurs when individuals spend more money than they have in their account, leading to potential financial struggles and debt accumulation.
Overdraft fees may be charged if you exceed your account balance, adding extra costs to your purchases. Furthermore, high credit utilization can impact your credit score and put you at risk of defaulting on payments.
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