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Essay On Credit Cards

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AN ECONOMIC AND ENVIRONMENTAL APPROACH OF CREDIT CARDS IN INDIA
Ranita Ghosh, Lecturer, Vivekananda College for Women, Barisha
Abstract:
Credit cards are not just convenient, they stimulate economic growth. Credit cards have had a meaningful impact on the economy.Apart from its property of user friendliness and feasibility,it is eco-friendly for the environment.In this paper an attempt has been made to analyse the environmental impact of card payment system of India and comparison of this with other modes of payment system.It also includes some suggestions for future.
Keywords: Card Payment, PVC (polyvinyl chloride), Environmental friendly, Electronic payments, paper mode of payment
Introduction:
Credit card is a plastic card which allows consumers to purchase products or services without cash and to pay them at a later date. …show more content…

But there are some disadvantages of credit cards:
It’s tough to recycle the plastic – One of the major drawbacks to credit cards from an environmental perspective is the plastic they’re made of. Most payment cards (debit, credit, gift cards) are made of PVC plastic. This is tough to recycle, which is why many expired credit cards end up in landfills.
The raw materials of plastic cards are harmful. Most credit cards are made out of polyvinyl chloride. PVC, like all conventional plastics is not environmental friendly. It takes about 4.25 grams of petroleum to manufacture one 5-gram credit card. PVC is rarely accepted by recycling programs and can produce harmful dioxins if incinerated. The card industry is starting to experiment with compostable PVC and biopolymers, but it will take some more time.
• Paper money has its downsides, too. The currency itself is made from a blend of cotton and linen—products that may be renewable but whose cultivation requires a lot of land and other

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