Credit Cards: Advantages VS Disadvantages

Nowadays, credit cards are often being used whenever we go shopping, eating at a restaurant or just by going outside. there are many stores that accepts the payment of credit cards these days. These cards often seems like a magical piece of board that would instantly do all the payment for your fees. We see credit cards as a convenience since we don't need to carry a heft amount of cash when we go outside. Yet we do not even realize that credit cards has it's down sides as well. We don't notice the debts that would slowly pile up...well, until the bill comes in and instantly slap you in the face with the high amount of debts.
Here we list which sides of credit card weighs down more, the good or the bad side.


Advantages:


Like it says above, credit cards are like a replacement for cash. We don't need stashes of money papers jam-packed in our bags whenever we go somewhere. People might consider that you're bragging with those cash-over stacked wallets, not to mention it is an eye candy for robbers and thieves. We wouldn't want that won't we. Also, parents without the time to accompany their much older children can just provide credit cards for them whenever their is tuition to pay at school or to the need to buy materials for their education..given that those teenagers would be responsible enough on their own.  
The insurance from the credit card company also adds to the good side. Points, bonuses and discounts are also a big plus for card holders as well. Emergency situations would also be faced off better with a card as we often need to spend huge amounts on sudden things like hospital fees, car breakdown, etc.


Disadvantages:


The advantages of a credit card can somehow blind you to how good the benefits are. Hidden consequences awaits when you use it irresponsibly. You would spend far too much that what you can pay with these cards. The large interest that the company places on you whenever you don't pay up at the ended of the month is a heart-hurting fact. Your wallet would be crying when you accumulate this debts, not being able to pay off in the end and find out the company would be adding more debts on you. Now isn't that heart-wrenching.
A cardholder must also be aware of credit card frauds, where your card may be stolen or someone steals your credit card number and use it for their own benefit.

In the end, it is up to a cardholder if they're going to use their credit cards wisely. On one hand it can be a great relief to have these cards, on the other, it can lead you down to your demise (of debts). If credit cards were actually that evil to use, society wouldn't even use them. But the fact that living life itself is very pricey (education, health, etc.), there is no other way but to rely on borrowing "free money" for a while.
"It costs too much, staying human." indeed.

Base on a website here are simple rules to keep you from going on the downside of using credit cards:

• Keep track of all your purchases.
• Don't spend outside your budget.
• Pay off your balance on all of your credit cards at the end of each month.
• Don't loan your credit or give out your credit card information to anyone but reliable companies.

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Checked by: Professor Crisencio M. Paner