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

In

this

modern era, citizens are using

credit

cards

to buy monthly goods. The advantages of

this

outweigh the disadvantages. In the below paragraphs I will explain some examples and

also

with a proper conclusion.

Firstly

, the usage of

credit

cards

was increasing day by day in the 20th century.

Credit

card

is pocket friendly, everywhere we can carry it easily.

Moreover

, by using a

credit

card

we can easily get some cashback amount on the purchase of the product.

Secondly

, we need not worry about cash because every shopping complex has its swiping machines where we can easily purchase goods. For exemplify, one of my uncles purchased clothes in a shopping mall. The total cost of the bill was around 60,000

INR

, he used a

credit

card

, and later the payment he got 10,000

INR

has a cashback offer.

Finally

, by using

credit

cards

the banks are charging more money on every payment.

In addition

, the treasury is giving loans on

credit

cards

.

Instead

of

this

, they are charging more interest on

credit

card

usage.

For instance

, one of my brothers had taken a loan by using a

credit

card

of around 15,000

INR

.

However

, he later paid the total amount was 30,000

INR

with all taxes and

also

with interest. To conclude, the advantages of

this

outweighs the disadvantages. By using

credit

cards

we can get more cashback and

also

offers.

On the other hand

, the treasury is charging more interest on

credit

cards

. the treasury is

also

providing loans with high-

interestinterest

Correct your spelling

interest interest

rates.