A person who maintains good credit can avail themselves of low interest loans. He can obtain a credit card to help him conduct basic transactions wherever he goes. Basically, a credit card is widely used and very popular among people nowadays. This card is very convenient to use, especially if you find yourself in a position of having no cash on hand. Wherever you go, either in the malls, restaurants, bars, hotels, grocery stores, hardware stores, and even hospitals, a credit card is usually accepted. Yes, it really feels so good that even if you don't have cash you could buy anything you want and eat anything you like. Having a credit card also is both a benefit and a risk.
The following are the pros and cons of having credit cards:
Having been approved in your application for a credit card is the beginning of benefits and few weeks later, your credit card will have arrived in your hands and the history of swiping starts. Of course you will really be excited in your first use of your card. It might be that you will use it in a restaurant where you are treating your family. You could eat in any restaurant you like simply by having a credit card. Another benefit is obvious: shopping in malls would be exciting. Why? Because if you find a beautiful dress or anything else that catches your eye, you could bring it home with just a swipe of your card.
Credit cards are also a big help when going to the supermarket to buy groceries. Your pay check from work could be available in several days while your cupboard and kitchen is barely empty. In such a case, your credit card has to rescue you. If you are also fond of travelling, buying tickets won't be a problem. You could use your card on-line in reserving tickets and even in hotels. Most big hotels prefer to accept credit cards fom customers. In the event also that that you or one your family members were hospitalized and you are entailed to pay the excess of your health insurance, such card could help you too. Amazing isn't it? Here's another good thing.
You could withdraw cash from your credit card. The cash that you could withdraw depends on the bank. The constant use of your credit card provides you reward and rebates depending on the amount you have loaned. The more swiping you have done the better rewards and rebates you could get.
However, having a credit card could also be a problem if you don't know how to manage your credit habits. This also calls every user to guard their heart from being vain. Yes, it is true that you are allowed to use it anytime, anywhere but, your responsibility is also a vital part of this equation. Since you have been loaned an amount, you have to pay it back, and if you as a borrower are unable to pay the amount in the due time, interest will be given to you plus other penalties. There might be a tendency that your credit limit will be cut-off because of your constant spending without paying. If you could not pay the amount in the exact time, when another month has started additional interest will again be given to you. That would be the time that you will be considering this as mind racking one. It is because you will constantly receiving e-mails and calls from banks reminding you to pay your debts. The worst is that if you haven't paid your debts that would be recorded in your credit report which will become a basis for your future credit transactions.
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