DELICIOUS
SU
REDDITIf you ask any legal or financial advisor about credit card, they all inform you that credit cards are not a good idea. But this is not always true. The card doesn’t have any problem, the problem is in the way that card is used. According to the survey, most of the members of all American family have more than $7,000 to $10,000 of credit debt. For the individual who doesn’t use the credit card properly, credit card can be a big obstacle for them and the financial security
But if you have self control to pay off the bill of your credit card every month, then the cards could bring some advantages for you. Credit cards are now used by every one, including college students. These cards might come with very low credit limit for those people who have poor credit history. Actually the cards should not be ignored, because carrying liquid money is extremely troublesome today, it could be lost or stolen. Credit card provided to the applicant with pin numbers which is the main security of the card. This card can be used in almost everywhere in the world.
Advantages of Credit cards
Most of the credits cards provide protection on your every purchase for some specific amount of time after making your purchase. For example, if the air tickets are purchased with the credit cards, the card offers sometime the free life as well as baggage insurance during your tour. Some of the credit cards also provide car rental. There are lots of card which allow you to earn some point on each $1 on your every purchase. Some others also offer you the cash back on your every purchase. Some of them also offer “reward” cards.
Ease of Use
This is much easier to use the credit card rather than carry the check book or cash with them. Purchasing through credit card, you can get the account detail on your every purchase that how much you are spending and where you are spending the money. This detail let you monitor where you may spend unnecessary money.
Interest Free Money
If it is used properly, the credit card also provides the interest free money to its all customer. You can pay your monthly charges without any extra fee. After receiving statement, you can pay total balance with any interest. Paying complete balance at a time is the smart way to benefit of the credit cards. If you do not pay the total balance, you will charge interest, sometime quite high rates. So that, paying full balance every month is extremely important.
Reward cards
The most popular reward cards offered by the credit card company are airline credit cards. It enables you to gain points on purchasing the free airlines ticket with every dollar you spend. Most of the airline cards have annual fees, these are sometime waived to the top customer.
Various other advantages
There are numerous other cards which are intended to attract customers. Some cards offer home mortgage loan. Some of them will donate your preferred charity. There are lots of card which connected to almost every thing today’s.
The credit cards generally take the risk that you can get the interest free loan, and if you pay the loan in full it is so much simple. Main thing is that, you can make your purchase with the card anytime, the store where you make your purchase, should pay three and seven percent of the total purchasing amount to the credit card company.
Credit cards are usually banking on your not paying total balance. The most of the card holders don’t pay the total balance. The Credit Card Companies generally encourage the card holder to charge by providing money transfers, convenience checks and various other incentives.
