People today increasingly use credit cards to make monthly purchases. Do the advantages of this outweigh the disadvantages?
Over the past few decades, we have familiarized
ourseleves
with the use of Correct your spelling
ourselves
credit
facilities offered by the
various financial institutions. Advance Correct article usage
apply
payment
methods such
as the
Correct article usage
apply
credit
card provide great
convenience in our daily life. While some Add an article
a great
people
argue that these facilities have certain drawbacks, i
strongly believe that the merits surpass the demerits of using Change the capitalization
I
this
payment
method.
To begin
with, the main advantage of using credit
payment
is that one no longer needs to carry excessive
amount of cash to purchase anything. The technology used by financial institutions for Add an article
an excessive
such
services have
made more secure and safer way to process our transactions. Cashless transaction is very beneficial for the nation as it lowers the rate for any chance of corruption. Change the verb form
has
For example
, All transactions by cards
can be Fix the agreement mistake
card
monitered
by the authorities which enables them to avoid tax fraud, Correct your spelling
monitored
On the other
hand
cash Add the comma(s)
,hand
payment
is difficult to trace.
Futhermore
, another major advantage of using Correct your spelling
Furthermore
this
service is that it provides loans to people
who can invest for the future. It facilitates the middle-class society with affordability
to buy a house or a car. With the property rates soaring high each year, it is extremely difficult to purchase a house based on savings. Correct article usage
the affordability
For Instance
, In a city like Mumbai, the average price of a decent apartment is very high, credit
payments have enabled people
to buy a house, whereas savings would require more than 20 years for the same. Besides
this
, it provides a good source of funds for investment purposes.
In Conclusion, Though there are some disadvantages like overspending and liability burden. People
should use these services wisely and whenever necessary. Hence
, i
completely agree that Change the capitalization
I
credit
facilities are greatly beneficial to humankind since it enables people
to invest for higher returns as well as helps them to save some money for the future.Submitted by roshan.rebello22 on
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