Question

The indiscriminate use of credit cards is the reason for the financial mess most families are in. Give your views either for or against topic. Please help

Answer 1

The indiscriminate use of credit cards is the reason for the financial mess most families are in.

 

Yes it is true that   indiscriminate uses of Credit cards are responsible in most of cases of financial mess of any family living in urban area. When now day’s credit card is comes free with new job of metros. Companies are dying to give you credit card with just showing your salary slip & pan card. Here begin a beautiful trap.

If you are not good user & financially not aware much then it will be nightmare.

Because.

1.       Plastic money always encourages us to spend more & save less.

 

2.       When you not able to pay the bill on time then with single SMS they ready to give personal loan, which is one of costliest loan.

 

 

3. There are many hidden charges behind uses of these cards. Always avoid late payment & always pay full outstanding amount. Never ever pay minimum due amount. It’s not going to help you much.

 

4. Always try to use cash if possible because we used to spend less when we pay in cash format.

 

5. Credit cards are always not bad thing if we use them wisely & judicially on time to time like on any big budget purchase so we can earn points & can redeem later in cash back or discount on next shopping During any planned journey it helps a lot we can save of interest in our accounts.as we are going to pay real amount after 45 days.

 

 

Answer 2

It is said that the indiscriminate use of credit cards leads to a financial mess in most families. But this is not entirely true. The use of credit cards is much more safe than handling cash at all times and in all places. It also helps people who travel a lot. They can securely carry their credit card and avail the same convenience anywhere in the country. Credit cards have made life much more easier and safer. There is no need to keep a watch over your money as it is kept safe in the bank. It is much easier to keep an account of your expenditure with the help of a credit card.