With EMI schemes it allows for predictable payments for high ticket items o Security : Credit cards are more secure than money. Once money is lost it cannot be recovered, but if a credit card is lost it can be cancelled and a new one issued in lieu. o Emergency : In emergency situations where access to savings or current accounts is not possible, credit cards provide credit cards provide access to extra money, fast o Travelling, online payments : Credit cards make it easier to make purchases online and they are also accepted throughout the country Consumer segmentation has in the credit card has traditionally been done on the basis of behavior. The primary classification are
Moreover, for a while, people have presumed that individuals who are wealthy live a content life not having to worry or stress over a single hair in the world. However, that is far from reality as the majority of wealthy people now and days are depressed and some going as far as committing suicide. Unfortunately, countless of people believe that wealth can buy one 's happiness but that is false. It can elevate an individual mood for a limited period of time but it cannot change how one is. In fact, in Taylor article,“ Understanding Money and the Meaning of Life” Taylor learns from Needleman that wealth cannot change one 's internal makeup, “ Money truly can not buy happiness, especially if you’re unhappy, to begin with.
If you are first building your credit, your interest rates can be high. “If you’re approved with a bad credit score, you’ll pay more in interest over time than you would if you had better credit and a better interest rate.” You may not get approved for many applications. If your credit score is too low, creditors may not want to lend you anything. You may notice that your applications are being denied. You may have difficulty buying a car.
Due to high competition, banks must attempt to lure clients away from competitor banks and also from players of other industries. They do this by offering lower financing, preferred rates, and investment services. The banking sector is in a race to see who can offer the better and faster services, but this also causes banks to experience a lower ROA. They then have an incentive to take- on high risk projects. In the long run, we 're likely to see more consolidation in the banking industry.
It has been able to convince the customers of safe, value for money and reliable products. At the same time, the company has an advantage over others in markets where others don't produce automobiles. 2.4 Threats New government policies on import of parts as well as opening new plants can make things difficult in certain markets. Lack of advertising focus can give advantage to
Poorer students tend to either steer clear of college, or go to very small, cheap facilities. However the case is, the more money is had, the less money is supposedly given in aid. Those who oppose cheaper education see that as being a key issue; if the education was cheaper/free, then the families that should be receiving less would essentially be receiving more because either way, the poorer person struggles with books and outside fees while the richer families pocket money due to paying less in tuition.
From the advantages and disadvantages of consumer credit, we can definitely see that although there are many issues that are controversial, nonetheless they do benefit the consumers in some ways. Besides, even though there are many people enjoying the advantages, it seems like there are a lot more people who are suffering from it. Sadly, another thing that can be seen is many lenders are just minding about how much more profit they could make rather than thinking whether or not they are acting 'ethically '. But in the end, we cannot just put the blame one party because the choice to enter into any contract is still made by the borrowers and not the lenders. Hence, after looking at so many different issues it can be concluded that provision of consumer credit will only benefit the society until a certain
For instance, poor people believe that it’s all about income and that one must earn a fortune first before getting rich. This thinking has become a major drawback to many because if in the first place, you mismanage your money, you cannot become financially secure even if you live on a huge income. Look at high-income professionals like athletes, doctors, lawyers, accountants – why are they basically broke? The simple reason is that it’s not about the amount of money that goes in; it’s about what you do with it. While poor people care less about money management, rich people are noted to be excellent managers of their
A study of 212 respondents shows that majority of the respondents use plastic money for instant transactions, mostly of them using plastic money because of flexibility and portability it was also found that less time consumed while using plastic money is also a factor which is affecting the usage. The Plastic Money is largely used by the people of service sector followed by business people, students and a small part by free lancers and homemakers. The majority of the respondents preferred private banks than public banks. A stagnant percentage of respondents does not use card because of the fear of losing it and less percentage of respondents is affected by the processing fee. Some of them were worried about the transaction charges and most of them were also affected by the formalities made by the
Pro’s: They can often operate more cheaply than formal banks and therefore provide the loans under better conditions. This acts to support economic growth. Normal bank loans are much safer, but that makes them also more expensive. Lower yields and higher fees. Because they are not subject to heavy regulation they can also offer services that banks are not able or are not willing to.