Pros And Cons Of Having A Credit Card

23 August 2012 14:30 - Which Way to Pay

Email Article Print Article

Pros And Cons Of Having A Credit Card

Being able to simple swipe a card and purchase anything you like makes credit cards extremely easy and convenient. However this ease and convenience comes with its pros and cons. If you are able to pay bills on time and not build up a huge debt, then a credit card is a great thing to have.

There are a number of advantages of credit cards; firstly you can use them practically everywhere even overseas. They can boost your purchasing power as you can buy goods and services over the phone, through the mail and online. Moreover if you need financial backup then a credit card will provide this for you. On top of this certain credit cards offer discounts in stores and rewards. For example if you make a purchase using a credit card you can the collect points; these points will build up and then often you can get free items like plane tickets. Furthermore credit cards can help you build up your credit history, they also keep a record of your expenses and which helps you pay your balance down.

However, there are some drawbacks and this is especially the case when they are used in a careless way. Some people think they can spend as much as they like on a credit card and donít consider the consequences. It is not free money! Additionally it is easy to roll over a balance for several months. Also when you default on credit card payments, you are charged with late fees and interest, increasing your debt load. Carrying a large amount of credit cards also isnít favourable in the eyes of the lenders.

So there are disadvantages as well as advantages of credit cards you just have to ensure you can control your spending.


Related Links:
• Credit Cards
Compare Credit Cards Here
• Info Library
Credit Card Information


Compare Foreign Exchange and Currency >>

Compare Loan and Debt Products >>

Compare Cards Products >>

Compare Money Products >>

Compare Insurance Products >>

When the planning starts for that special day in everyone's lives , There is always the worry and stress of how much strain it is going to put on your financial situation . Marriage loans are helping lots of people to ease this stress.
08 August 2015
Which Way To Pay
Marriage loans have been introduced to help prepare for the expense you will incur when celebration the most special day of everyone's life.
As everyone wants that big day to be perfect , there is also a hefty cost that comes with it .
14 May 2015
Which Way To Pay
Marriage isn't a cheap affair that's why Marriage loans have proven so popular across India.
Everyone want the best education , But financially this can be a worry
07 October 2014
Which Way To Pay
Getting the best education is the main priority in most people's lifetime.