Credit card a great facility, if you misuse it then it is Poison for you

Siddiqui By Siddiqui, 21st Mar 2011 | Follow this author | RSS Feed | Short URL
Posted in Wikinut>Money>Credit Cards

Having a Credit Card is a great facility, A peace of mind in your pocket, But if you miss use it, it will change into a snake in your pocket.

Keep your Credit Card as ar Rescue in emergeny instead of unnecessary use.

Any facility if you misuse it, it become trouble, not for you but for others too. I was never in favor of credit cards because by having it in pocket, it always tempt you to spend and most of us come under temptation too, while if we do not have this card, we can avoid many unnecessary expenses, but one day while i was traveling on a plane, I saw my neighbor using satellite telephone provided by the Air hostess, she just ask him to give his credit card, she just swipe his card on the side of that instrument and that guy was talking his family from the height of 10000 meters, when he finished, I asked that can I pay cash for such calls?, she said sorry, you must have credit card for using this facility, then I realized that cash is not always king.

If you use credit cards only when you have an unavoidable reason or need, no matter what is the amount of that but within the limits of your card, re-payment schedule is very easy, even you can pay 5% per month, but re-payment should be on due dates and smoothly with out any negligence, If you pay all the amount consumed for buying stuff within 45 days there is no any interest. Avoid to draw cash through your credit cards, there is a heavy rate of interest on such withdrawals on daily basis, and in case of delay in re-payment interest will be compound and on some stage may be it will hard for you to re-pay and then series of correspondence will start with the banker.

When ever you try to use this card, before take it out from your pocket, just think for few seconds that can you avoid it to use, if you can avoid keep it back in your pocket for use in some other real emergency, by having card in your pocket, it is not necessary that you must use it, but you should have at least one card for helping you as rescue in a big & serious emergency or where you can not use cash like on web for on line shopping. Online shopping safe your valuable time and time is money, If you use for online shopping only for time saving purpose, you should re-pay this amount in your first available time on priority basis within 2 to 3 weeks, that will keep safe you for payment of interest also.

If you want to avoid carrying cash and some time you are using credit card cause you are not carrying cash, it is better that you must have one debit card also, Debit card also have same usage like VISA card, but all the uses will direct debited to your account subject to you have sufficient amount in your bank account. Nowadays mostly banks issuing debit card even you not request for that, when ever you open an account, bank will send you debit card on your address, that debit card carrying VISA logo, and it is much better then a credit card. Credit card is just like a snake if you not feed it well, it will stings you any time.


Credit, Credit Cards, Finance, Loans, Loans Same Day, Telephone

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author avatar Siddiqui
From Pakistan in the field of journalism, We can share our experience for others by writing if they are useful in any sense.

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