People today increasingly use credit cards to make monthly purchases. Do the advantages of this outweigh the disadvantages?

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There is ever-increasing shopping paid by
credit
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cards.
This
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essay will argue that despite the possibility to immediately purchase an expensive item at stores and acquisition of property with
credit
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money
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, it is impossible to avoid the drawbacks that the use of a
bank
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credit
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card interferes with the ability to correctly manage a monthly budget and requires additional commissions for purchases made. On the one hand, there are some benefits of a
credit
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limit.
Firstly
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, it gives freedom of action in shopping malls, if you suddenly need to buy something unplanned.
Therefore
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, it is not necessary to wait a long time, accumulating the required amount of
money
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, but just go shopping things right away, and
then
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figure out how to return it.
Secondly
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, a person with an average income will not be able to buy an apartment without a
bank
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loan, so it provides an opportunity to improve the standard of living.
For instance
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, to prove these two advantages of
credit
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cards the report of the National
Bank
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of Russia states that 92% of real estate is acquired thanks to borrowed funds from banks, and 68% of computers were purchased with
credit
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cards.
However
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, these advantages do not cover the problem that over time loans cause addiction and
this
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is just an appearance that the
money
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is yours, but in reality, people will have to return it to the
bank
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.
On the other hand
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, shopping with
credit
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money
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has downsides in that it gives an impression that a person earns more than his monthly salary,
then
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it becomes a habit and in his head the amounts that can be spent in a month increase, when in fact he spends not his own
money
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.
Moreover
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, it is needed to pay interest for using
bank
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money
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, so it turns out that a
card
Correct your spelling
car
show examples
owner spends on a purchase one and a half times more than it actually costs.
For example
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, the community of financial advisers publishes educational booklets in which they give an example that using
credit
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cards for a month and
then
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paying interest is 21% more than the average monthly salary, and for a year
this
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comes out 252% more than the annual income, which ultimately turns out extremely unprofitable To conclude, while there are positive aspects of
credit
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cards online
such
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as the ability to buy new equipment if the old one suddenly breaks down or to buy real estate, there are
also
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negative effects, namely the appearance of having a larger amount of
money
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in the account than in reality, as well as high costs due to interest for using
bank
Use synonyms
loans.
Submitted by nika_korobcova on

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Word Count

IELTS says that you should write a minimum of 250 words in writing task 2. If you go under word count you will lose marks in task response.

A very long essay will not give you a higher band score.

Aim for between 260 to 290 words in writing task 2. This will ensure a concise essay and will be realistic in terms of time management. You have only 40 minutes to write the essay and you need around 10 minutes of planning time, so you will not be able to write a long essay in 30 minutes.

Discover more tips in The Ultimate Guide to Get a Target Band Score of 7+ »— a book that's free for 🚀 Premium users.

Topic Vocabulary:
  • Cashless transactions
  • Financial footprint
  • Interest rates
  • Credit score
  • Consumerism
  • Debt accumulation
  • Expenditure tracking
  • Fraudulent activities
  • Overspending
  • Purchase protection
  • Revolving credit
  • Creditworthiness
  • Impulse buying
  • Secured credit card
  • Unsecured credit card
  • Spending limit
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