People today are increasingly use credit card to make monthly purchases. Do the advantages outweigh the disadvantages?

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The utilization of
credit
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cards
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has drastically increased nowadays to spend monthly purchases all over the world.
However
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, there are pros and cons of
credit
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cards
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and the following paragraphs, will explore the topic and elaborate on why the advantages outweigh the disadvantages.
To begin
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with, In recent times Private
Banks
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and Public
Banks
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are keenly approaching all individuals who have an accurate
credit
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score and monthly pay greater than twenty thousand in sponsoring
credit
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cards
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without any checking or any other financial security. ,
Moreover
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humans
also
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look forward to applying for
credit
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cards
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which is helpful to fulfil their financial needs.
For instance
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, Corporate and administrative
Banks
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are providing vast discounts on numerous products on online websites like Amazon, Myntra,Nykaa and Flipkart. Upon usage of
credit
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cards
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, We can see a lot of demand and supply in the market and it leads to the growth of the economy.
Secondly
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, on another ,hand there are pros to
credit
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card
credit
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cards
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for making monthly purchases which lead to a burden on people. Expenses increase a lot more than expected on monthly bases.
Banks
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charge huge penalties when payment does not happen on time. Due to late payments, the score is decreased which causes an overall effect on the customer's profile.
Moreover
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due to the stress on customers, the Suicide rate is raising in the world. It
also
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allows humans to purchase unnecessary items. In conclusion, we have to set a limit while spending monthly purchases That being said, the benefits of
cards
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surpass the drawbacks for the same.
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  • to illustrate this
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  • such as
  • namely
  • to illustrate
  • take, for example

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