ARE CREDIT CARD – A PRO OR A CON?
A little rectangle piece of plastic can prove to be extremely convenient at the time of crisis. However, it can also turn the tables if not handled with care. They can be your best confidante or your worst nemesis if you don’t know where to draw the line. This very con side of a credit card makes people think whether to opt for it or not. But having said that even though credit card debt still tops the nightmare of public not having a credit card has its drawbacks.
A treat to individuals
So, as we all know, this little piece of plastic is novel to the crowd. Two decades back it was almost a non-imaginary entity. Yet from the time of its inception to the recent past, it has evolved stupendously. Coming back to the present they have turned out to be an essential aspect of our lives.
Not a luxury but an essential for sure
While it was once considered a luxury element in today’s time, it has almost raised its position to the essential category. From booking flight tickets to making a reservation for hotels, credit cards serve a lot of help. It is not wrong to call it an element that has turned out to become a business-standard. Almost all the payments can be carried out with the help of a credit card anywhere anytime.
What are the other benefits it serves?
Well, we are not oblivious to the fact that it bails us out at the time of need. It also presents a lot more benefits. These include loan facility that often is determined based on your credit history that would indirectly determine whether you are eligible for the loan or not.
While not having a credit does pose a lot of disadvantage, the magic of not incurring huge debts lies in your smartness of using it wisely.