Nowadays, it is easy to apply for and be 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 disadvantages?
In this modern era, with the advent of technology people have a large number of facilities in every sector and it makes their life easy and burdens free. one of these facilities is the credit card issued by the banks. one can easily apply and get this card. however, some people face difficulties to pay the expenses for the usage of credit card. so it has some advantages and disadvantages but in my opinion, advantages definitely, outweigh the disadvantages.
To begin with, in the past time, there were fewer banks in the society and people had to go far away for the bank transactions. but with the passage of time, a large number of branches are opened and they provide a huge number of facilities to their customers and credit card is the major one. moreover, with the help of a credit card, one has no need to carry cash with itself wherever one goes because it is valid to use in every corner of the world. people can use it for shopping, paying the balance, load fuels in vehicles and for many other works. in addition to this, it is easy to carry and with this, there is a decrease in crime also because if someone grabs one’ card then one can immediately inform the bank and they block the card. the transaction of this card and money will be safe.
On the other hand, it has some disadvantages. for instance, some people misuse this facility and they use it very common and when to have to pay the bill, they are unable and this results in some legal action against them. secondly, some poor people can not afford this facility and the reason behind this is the illiteracy among people. they do not know how to use it. in spite of this, the bank has also sanctioned some charges for this credit card annually which is beyond the reach of the poor masses. in spite of this, there are still some places where one cannot use these facilities because it is recently launched and it will take time to establish fully. but the advantages of this overcome the disadvantages because, with the trend of modernization, it become famous among people of all generations.
In conclusion, credit is an outstanding facility given by the technology and the need of the time is that people should be aware to use it wisely where it is necessary so they have no problem to pay the expenses. last but not the least thing is people should act upon the saying ” cut your coat according to your cloth”
In the past, many people had skills such as making their own clothes and doing repair to things in the house. in many countries, nowadays, skills like these are disappearing. why do you think this change is happening? how far is this situation true in your country?
Nowadays, it is easy to apply for and be given a credit card. Nowadays, it is easy to apply for and be given a credit card. Nowadays, it is easy to apply for and be given a credit card.
2 thoughts on “Nowadays, it is easy to apply for and be 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 disadvantages?”
now a day it’s not difficult to have credit card but one should be cautious before buying it as some people believe that the debt is difficult to pay off if it’s not calculated properly.this essay will discuss about pros and cons of having credit card and supports with relevant example that why we should be very cautious before buying it.
it happens with many people that if one is regular tax payer and his credit score is good than many credit card companies contact him to offer credit card without any joining fees. these seems very luceratives and any body like to accept that opportunity. because not only initial offer but having credit card gives you number of other benefit like great offer on shopping, travel,dining but in particular it can be utilized any where in world.but the most important is it gives you sense of having in upper class.so many people who are having regular and good source of income are preferring credit card than debit card or cash.
on the other hand most people who don’t have regular income and cautious about their average income to expense ratio are critical thinker about their ability pay debt. in particular people like whom job is fall in less skill full category such as labour , vendor , small shopkeeper,and jobs on contract are not a good candidate to buy credit card.because the might not have constant flow of income for debt to pay and that’s become dezastar for their life. such an incidence has happened with one of my friend who bought xxx companies credit card and to take all the advantage has spend his money by credit card but suddenly his employer terminated his contract and he become job less as a result lot’s of interest has added to his principal and many of is property and saving has to sell of as a settlement to the debt.
from the above example now i firmly believe that even if you are offer to have credit card without any joining fee and lots of attractive offers are coming with it one should considered the rate of interest and unfavourable situation which may restrict flow of income before buying credit card.
please evaluate it and give me your expert opinion.