<human>: What are the advantages and disadvantages of a credit card over a debit card?
<bot>: Advantages of a Credit Card Over a Debit Card • Flexibility to use money for different types of purchases without having to wait for your paycheck or other funds to arrive. • Ability to build up credit history by making timely payments. • Access to higher credit limits than debit cards, which can be helpful if you need to make large purchases. • Protection from fraud with built-in security features. 2 Disadvantages of a Credit Card Over a Debit Card • High interest rates on outstanding balances. • Higher fees associated with using a credit card instead of a debit card. • Risk of incurring debt if you don’t keep track of spending. • Limited access to cash if your credit limit is reached.