PROS AND CONS OF CREDIT CARDS

PROS AND CONS OF CREDIT CARDS

There is no denying fact that use of plastic money is in the vogue. Credit card means that people spending bank’s money as per their needs now and can pay later to the bank. Some people believe that the use of plastic money has great boons but other does not agree with previous statement. In this essay both opinion will be discussed before reaching to any conclusion.

Credit cards help us to buy one’s necessities when a person doesn’t have hard cash in his pocket. They can purchase anything for fulfillment of their dreams and may pay later to concerned bank. In this way people are not disturbing their budget and using other’s financial sources for their betterment. In addition, they can also shop online with the help of credit cards. Mainly it shows the status symbol of aristocracy. The people have a rat race to have more than one credit card in their pockets.

However, human nature is always to be in limelight, for that he starts telling about his achievements with exaggerate manners. He starts shopping lavishly, because he assume he will pay later on, but actually he do not realize while spending more than his income. Sometime he cannot even remember that one day he has to pay all the money with interest. In the end he feels that he caught in the web of credit and become bankrupt and may commit suicide.

By hammering the last nail, It is wise to say that Bank create a myth in front of the people that a person with credit cards look sophisticated but actually it is a hyper reality. People cannot forget if they are spending banks money they have to pay it later or soon, so people should avail the benefits to use it up to some limits.

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