Limited Storage
The PlayStation 2 uses an 8MB memory card, which was more than large enough in the system's earlier days. However, the PS2 now features some games that can take up an entire memory card with one game-save. To save more games, you'll need to buy more memory cards.
Incompatibility
The PlayStation 2 memory card can hold data only for PS2 games, so although the PlayStation 3 is backward compatible with the PS2, you can't transfer saves onto the PS3. You can't insert the PS2 memory card into the PlayStation 3, and PS2 data saved on the PS3 cannot be transferred onto a memory card.
Corrupted Data
The PlayStation 2 memory card can experience a problem where saved data becomes corrupted. According to the PlayStation website, a number of things can cause this, such as using a third party memory card, a software error during the loading or saving of a game, or even saving a game while a cheat code is activated. You must delete corrupted files from the memory card, which means you will lose any unsaved progress in the game and be forced to restart from an earlier save point or the beginning of the game. You can't retrieve a corrupted file.