Resources and guides on how you can make your very own money without having a job.
Tuesday, October 16, 2007
Advantages and disadvantages of charge cards
The use of charge cards (a.k.a. credit cards) has been ubiquitous and is becoming an ever bigger part of our daily life. There are several advantages of carrying a charge card.
The main advantage of having a charge card being that it allows us the convenience of buying items or services without carrying cash and it also allows the convenient of ordering things by post or telephone. Most obviously, it is also a must-have for shoppers to shop online. Another major advantage of charge card is that one has the ability to withhold payment for merchandise which proves defective.
However, charge cards also has its drawbacks if misused. Due to the ease of use of charge cards combined with impulsive buying habits, hence, one might easily overspent their credit. And with the use multiple charge cards which most of us nowadays used to, we might be digging ourselve deeper into debt day by day. In fact, charge cards is also one of the most expensive way of obtaining credits due to its high interest rates charged. And not to mention, losing a charge card might even be more troublesome as they create inconvenience and incur more expenses for a replacement to be made. Unauthorized charges made to one's charge card may also take a while to resolve.
Therefore, as a good rule of thumb, use your charge cards wisely and always pay your bill on time.
