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

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Technology has made our life so easy that now we can lead our life without cash if we want. The invention of
credit
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card
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has opened many opportunities
along with
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some negative impacts which is much lesser than their benefits. There are a lot of advantages to using
credit
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cards. First of all,
this
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is undoubtedly safer than carrying cash. Nowadays, pick-pocketing and looting is a very common
scenario
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scenarios
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in many countries, if
such
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incidents happen, the victim will not lose a penny if he or she simply informs the customer care representative to stop the transaction.
Secondly
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, grocery and clothing shopping is more convenient than ever, many brands are offering attractive discounts on
credit
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card
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purchases.
Thirdly
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, the facility of visiting the airport lounge during travelling has added a premium level of happiness for
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cardholders
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card
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holders.
Last
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but not least, the repayment scheme is very user-friendly. We can not deny that, there are some disadvantages of
credit
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card
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cards
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also
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. A very common human nature is buying new things, having a
credit
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card
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encourages
this
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habit tremendously. A few features of
credit
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cards are quite complex which is difficult to understand for common people,
as a result
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, consumers sometimes have to pay extra as a penalty.
For example
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, if a
card
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user does not understand his billing cycle properly, he will be unable to repay timely and
hence
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his bill will be increased like a horse running pace.
Moreover
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, after 1 to 3 years later, the customer has to pay a yearly charge on
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card
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the card
a card
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which is not a small amount usually. In conclusion,
although
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credit
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card
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has some disadvantages, the positive sides or benefits are keeping them far ahead in the race. And these limited negative sides can
also
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be overcome by simply knowing all the rules and regulations of the banks regarding
credit
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cards.
Submitted by Md. Anwar Hossain on

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