Advantages And Disadvantages Of Credit Cards

897 Words4 Pages

Are credit cards a blessing or a curse?
Nowadays most people have credit cards and some people do not know how good they are. If you use it correctly it’s a wonderful thing but if you don’t use it correctly you can get yourself into a lot of trouble so I thought I’d do my topic on credit cards to discuss whether its a blessing or a curse to help people stay safe while using it or they will be in a big debt trap so I will be doing arguments for and against using credit cards. if you use the credit card correct you’ll be able to finance items for free when you take advantage of interest problems. Many credit cards come with zero per cent interest on purchase and balance transfers. This gives you the convenient ability to pay …show more content…

Thieves don’t have to steal your credit card to get your information. They can hack stores where you shop or websites that you’ve used your credit card to steal your card details and use it to make fraud purchases. It is far too easy to buy products with the credit card and you won’t even need the products or you might need some things but you won’t worry about it when you are in the shop you will start to worry about it later when you are in a big debt …show more content…

consumers think that using their credit cards for online shopping or other necessary things they might need to buy is a good thing, but they are actually wrong because is bad thing. They might not know if someone is taking their money and then might have to pay the overdraw of the credit card they have. Some other negative impacts are that consumers may continuously roll over the balance for several months. Also when consumers default on credit card payments, you are charged with late fees and interest increasing your debt load. What people will have to do in order to have their credit card should be safer so that there is no impact and environmental effects to make the situation better. The banks will have to allow people to link all of their accounts so people will have fewer cards, which will also be safer. This production should be completed in one or two years so the credit cards of the consumer are safer. This action should be taken because when people used the credit card to buy the necessary things or that they like or including online shopping they take the money of the consumer but not only online shopping also shopping centres and stores. This action will improve the situation better because this way people have their credit card improve and better. Also it will prevent from people or stores taking the consumer money of their bank account by using

Open Document