People today are increasingly use credit card to make monthly purchases. Do the advantages outweigh the disadvantages?

Due to the advent of technology, uses of
credit
cards ha
ve been gaining p
Suggestion
have gained
opularity. In my perception, the benefits of plastic money outweigh the drawbacks because not only does it improve standard of living, but
also
they are at no risk of ro
bbery victim.
Suggestion
a robbery victim
Admittedly, plastic money ha
ve v
Suggestion
has
arious negatives. One of them is ha
cking.
Suggestion
hacked
Pe
ople having
Suggestion
The people having credit card
credit
card
se
em t
Suggestion
seems
o be at a greater risk of being hacked. If any stranger come to know the password and the
card
details, he will able to use it without the knowledge of end users. Another drawback is expenses they made are not paid on du
e date.
Suggestion
the due date
To elucidate, ba
nk o
Suggestion
banks
the bank
f
ten mention s
Suggestion
often mentions
p
ecific time t
Suggestion
a specific time
o
credit
card
holder to make expenses they made. If they fail in making payment on time, they will be included in the list of de
faulter b
Suggestion
defaulters
y the banks which will affect their cr
editworthiness.
Suggestion
credit worthiness
Despite aforementioned disadvantages, I believe
credit
card
benefit to end-users in different ways. One of them is to get rid of being robbery victim. To exemplify, the owner of plastic money does not require to carry he
avy liquid amount w
Suggestion
a heavy liquid amount
ith him all the time, meaning that they tend to use
ca
rd i
Suggestion
the card
n any emergency situation without worrying about cash arrangement. An
other p
Suggestion
Other
ositive aspects is improvement in standard of living. Augmenting people seem to get lo
an e
Suggestion
loans
asily from the banks to purchase ho
use hold i
a social unit living together
household
tems
such
as washing machines, refrigerators, laptops on the monthly instalment basis. Due to
this
they are able to improve their standard of living.
For example
, the news report by BB
C i
Suggestion
the BBC
n March 2019 found that 70% from middle or lower class are able to get better life due to easy instalment method by banking section. In conclusion, even though there are many downsides to having
cr
edit
Suggestion
a credit card
card
like ri
sk o
Suggestion
the risk
f hacking and labeling as defaulter, I think that better living standard and not being a victim of robbery ar
e m
Suggestion
is
ore imperative benefits.
Submitted by jdsmss on

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