Nowdays it is easy to apply for and given a credit card. However,some people experience problems when they are not able to pay their debts back. In your opinion, do the advantages of credit cards outweigh the disadvantage?

Today,any eligible
one
can easily get a
credit
card
.
However
,
credit
cards
provide financial support while emergencies,but they
also
can be a tough
time
to repay. I strongly believe that the advantages and disadvantages of plastic money depend upon the user's mind.
Firstly
,if we look at the darker side of
credit
cards
, cardholders can spend a fixed amount limited by the bank and pay later after a particular
time
. Sometimes at the
time
of the bill ,payment the debtor is not in the condition of repayment,due to any reason.
One
's financial record can be ruined by late payments.
Furthermore
,
credit
cards
are
also
acceptable on all online portals. It is the responsibility of the cardholder to use it very carefully while filling in the details of the
card
on various websites. The sites can be a fraud and hackers can hack and block the
card
, they
also
can misuse it. Apart from
this
,there are various advantages of
credit
cards
. The main benefit of these
cards
is, provide financial support,
for example
,at the
time
of emergencies
one
can pay their hospital bills and can settle down their previous debts.
In addition
to
this
, it
also
increases the purchasing power of the individual. Because of the pay later option, the person can buy anything under his/her
card
limit and can pay after some
time
.
One
more benefit of the
credit
card
is , paying the bill in EMI, which means the total spending of the
card
can be paid in the installments if the person is not able to pay the whole amount. In the end,there are various pros and cons of plastic money,but it all depends upon the mindset of the users.
Submitted by mangalpreet35 on

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