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

The blooming of the banking sector makes it possible for many users to apply and easily get

credit

cards with certain limitations.

Hence

, the majority of the account holders enjoy the facility of cashless transactions. People using

credit

cards to bear their regular expenses might face some trouble.

However

, it is undoubtedly true that the advantages of

this

phenomenon supersede the disadvantages. Admittedly, the advantages of using

credit

cards are more intense and have a positive impact on people’s spending patterns. In today’s contemporary scenario, people having a bank account are keen to have cards facility to make their shopping experience hassle-free.

Firstly

, people do not need to carry a huge amount of money in their wallets. Despite

this

, they take a

plastic

card

with them while going out.

Therefore

, it eradicates the chances of robbery or any other delinquencies.

For example

, due to the high-tech security feature of the cards makes it hard for thieves to misuse the

card

.

Secondly

, the other advantage of

this

approach is that it entitles people with a lavishing standard of living.

For example

, an individual shifted to a new place can purchase luxury household appliances like air-conditioner, microwave, and washing machine without worrying about cash payments as a bank will lend

credit

for a specific period of time.

Hence

, it enhances the economy of the country as a whole. Despite, the positive sides of

plastic

cards, there are few drawbacks

also

. It is true that many

plastic

money users are not aware of the fact that their

card

would get hacked and hackers might do unnecessary expensive transactions on their behalf, which might put a creditability burden on cardholders.

Besides

,

card

users sometimes do not think about the worth of their income and spend recklessly, and lately, they would have to pay a certain amount on the due date as stated by the bank. In conclusion, using

plastic

money have

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arious detrimental effect on the

card

users;

however

, there are numerous advantages

also

which makes the financial transactions more convenient and faster. All in all, the advantages of

this

outweigh the disadvantages.