Credit Cards Are a Sensible Choice

By | May 24, 2012

Credit cards, their benefits and their threats are something we all possess knowledge on. With a part of the younger generation getting drawn towards the gleam of credit cards, there is one group who is strongly resisting the urge to hold and manage credit cards. For them, credit cards are nothing but an instrument that opens the door to a dark debt trap. They find comfort, convenience and promise in debit cards or cash in hand, other than the modest credit card that often promises attractive benefits like free credit periods, and other viable deals and offers. Although this batch may be highly outnumbered in number, they claim to be aware of individuals who do not believe in the reckless spending habits a credit card encourages and propagates. Many of these people may have either had a bad experience with credit cards, and thereby, they have vowed never to associate themselves with it, or maybe they belong to a class of people who have incessantly heard the perils and disadvantages associated with a credit card while growing up. Some others might merely believe that credit cards are nothing but an expensive source of credit that eventually leads to the accumulation of debt.

It is important to remember that every financial tool has its own advantages and disadvantages that come together with it as one whole package. It is up to the individual to make good or bad use out of it. If you are a responsible person who believes in the virtue of good financial discipline, then the credit card is definitely worth your choice. Credit cards may not always draw the reckless and irrational side of an individual. People are said to grow, evolve and eventually mature with credit cards. If you are a person who easily succumbs to his financial weaknesses, then the choice is simple. Stay away from the pull of credit cards before you find yourself neck deep in debt. And there is nothing worse than outstanding dues for a credit card user as high and steep interest rates follow suit. There is no denying that credit cards are high on the free credit period days and the huge convenience factor involved. All this can be enjoyed when you are smart enough to clear your dues on time. Moreover, you no longer have to carry cash while going shopping, thereby looking into the safety and security aspect. One of the main reasons why debit card has become such a put off among people these days is due to the fact that your entire savings account balance is revealed at the end of your transaction. Thus, they aren’t a hit among people who cherish financial privacy.

In order to use credit cards wisely, you don’t have to pray day and night for some financial prudence from the Greek God of Wisdom Athena. Just clear your dues on time, be credit savvy and wise in financial dealings and transactions. Credit card users find their biggest fan following among frequent flyers as it spells one word to them: c-o-n-v-e-n-i-e-n-c-e. The best way a person can learn about his spending pattern can be through his credit card. And with the free credit phase, many people might be tempted to jump onboard such deals. Remember your financial goals, plan accordingly and make the right financial decisions at all times. If you are seeking to repay your debt through credit cards, then remember that this might not be quite a good idea as credit cards are also the most expensive credit instruments. A great financial blunder will be to opt personal loans or any other type of loan to repay the debt on your credit card. Therefore, in order to avail the maximum benefits with credit cards, use utmost care while dealing with credit cards.

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