Credit card is very popular financial instrument nowadays. Most of us using different kind of credit cards and that helping us for easy shopping. The world seems to have been squeezed and wrapped in a credit card. Nowadays everyone speaks and understands the language of credit cards. Credit Card Syndrome seems to have taken over all of us. But are credit cards only useful? Let’s analyze the credit card pros and cons of this plastic pocket and see what exceeds the other.
Credit Card Benefits:
Keep heavy cash on hold – money is the most desirable thing in this world. Carrying a lot of cash wherever you go is always a matter of dispute. A credit card that makes it easy for you to travel without heavy money and have a happy trip, a happy trip, or shopping.
• Imagine yourself shopping in a wonderful mall. While shopping, remember to take shoes for your son, glasses for the mother, a necklace for your beloved wife … but you lack money! A credit card is your best friend in such a situation.
• Even if you lose your credit card, you don’t have to be afraid and afraid of the way you get when you lose your money. This is because you can freeze the card, block it from the bank, and relax.
• The credit card works anywhere, everywhere nowadays. All you need is to carry your card and move to any destination without the need for money.
• Loan facilities can be availed by credit cards.
The disadvantages of the increase in credit card use.
• In general, not everyone meets the eligibility criteria for a credit card. However, in order to boost their sales and as part of marketing strategies, companies, private banks, etc. discard these cards for those who serve up to the minimum terms and conditions.
• Loan Factor – Cards provide you with huge credit limits. A consumer who is ignorant of the coming problems, continues to withdraw money from his card, and most of the time when he realizes his mistake, it is too late. It comes not only with the debt of the money withdrawn, but also with the huge interest charged by these companies and banks.
• Many credit card companies offer profitable offers almost every month in the form of incentives. These incentives are mainly aimed at promoting the sale of their products. Incentives such as travel programs, gas purchases, etc. are a very common phenomenon these days. But one should not be attracted to these because it is well said that all that glitters is not gold. At first, the cards may be promising for some pleasant moments, but once you get used to it, they can hit you in the soup.
Addiction – Addiction to these cards is often a source of problems. People who continue to withdraw suffer greatly from the bank or company credit.
• It is believed that debit cards differ from credit cards. But in reality the difference is accurate. Debit card can also be used as a credit card sometimes, and there are some notable banks that charge fees for debit cards as well. So the situation remains almost the same.
When you decide to purchase a discount card, consult a counselor. Find out the interest rate details, how long you pay, and other things like that. Brand names are not. You only need to do a survey first and then decide which one you want to do.
These are the main credit card pros and cons and i hope this article is useful for you. Everything have both side, use it in better way and enjoy the benefits. Happy shopping.
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