ADVANTAGES & DISADVANTAGES OF CREDIT CARDS

IF YOU ENQUIRE WHY THEY POSSESS A CREDIT CARD, MOST WILL TELL YOU FOR THE CONVENIENCE AND IN CASE OF EMERGENCIES. BOTH OF THESE ARE GENIUNE POINTS. THE CONVENIENCE CAN OCCUR WITH YOU ALL THE TIME AND MAYBE NOT HAVING CASH FOR GROCERIES OR GAS. EMERGENCIES HAPPENS DURING TRAVEL OR KIDS WITHIN THE COLLEGE IN WHICH HAVING A CREDIT CARD COMES IN VERY HANDY. THE PEOPLE WHO ARE WELL MANNERED AND DISCIPLINED TO USE IT AND PAY IT OFF EACH MONTH CAN GET REWARDS AND BENEFICIAL PROMOTIONS ON THE BEHALF OF REGULAR USE. THESE CARDS CAN BE USED FOR UTILITY BILLS, HOUSEHOLD ITEMS AND OTHER EXPENSES. CREDIT CARDS ARE MUCH PROFITABLE WHEN THEY USED IN TRAVEL AND UNPLANNED EXPENDITURES, SUCH AS A NEW WATER HEATER. SOMEHOW, THIS USE DOES CONTAIN SOME NEGATIVE ASPECTS ALSO. THEY GIVE YOU ACCESS TO QUICK CASH IN A PINCH, BUT IT IS NOT FREE MONEY. YOU WILL HAVE TO PAY INTEREST OF HIGH COST IF NOT PAID IN LIMITED TIME.SOME PEOPLE DO NOT REALIZE THIS AND REPENT ON THE LOSS WHEN STATEMENT COMES AFETR A MONTH. THEY GET SHOCKED AFTER KNOWING THE INTEREST RATE DUE TO LATE AND MISSED PAYMENTS, WHILE CREDIT RATING HITS ROCK BOTTOM. IT,S BETTER TO USE IT WISELY AND BEWARE THAT YOU HAVE TO PAY A MONTH LATER, WHAT YOU ARE PURCHASING NOW VIA CREDIT CARD. IF LONG-TERM PURCHASES CANNOT BE AVOID, THEN USE A CREDIT CARD WITH GENEROUS ANNUAL PERCENTAGE RATES (APR) AND PAYMENT GRACE PERIODS AS WELL. THESE COMPLEXITIES CAN BE DEMOLISHED BY READING ALL OF THE PRINTED MATERIAL AND BY KEEPING ALL THE TERMS IN MIND SETFORTH BY THE FINANCIAL INSTITUTION. CREDIT CARD CAN BE A GOOD WAY TO ESTABLISH CREDIT AND MAKE LIFE A BIT EASIER, WHEN USED PROPERLY.