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General Forum: Current 'Affairs' | | IS CREDIT CARD A BOON OR A BANE? | |
| Pros:
Credit cards are often the only way to make airline, hotel, or rental car reservations.
Credit cards allow you to buy over the phone or online.
Carrying credit cards is safer than carrying cash.
Credit cards can be particularly useful in short-term emergencies.
Depending on your terms and conditions, your card gives you purchase protection, travel insurance, frequent-flier miles, or cash-back bonuses.
Using a credit card helps establish a positive credit history, as long as you use it wisely.
Cons
Interest and fees may outweigh the financial benefits of frequent flier miles or other benefits.
Having a credit card makes it easy to spend money you don't have.
Bad credit debt could affect your future If you think of your available credit as an emergency fund.
Posted by: DoBoy At: 25, Jul 2005 3:50:45 PM IST
lol mahi
now·a·days the lord venkateswara (balaji) also accepting the credit card for donations:)
http://www.tirumala.org/donations.htm
Posted by: Mr. manoopuli At: 25, Jul 2005 2:53:50 PM IST
disadvantages>>
1. credit card is a trap . you fall in that and will never get out of that . like a spiders web.
2. many of the people at my office buy their lunch with credit card. now tell me keeping in mind some moral values and good thought in mind..would you ever think of eating with some others money?? my point is to make it clear that credit cards are so tempting that they disturb the usual routine of the mankind .APPU CHESI PAppU KOODU isnt it ?? this means you arent able to earn your own food and rely on credit for you food.
3.if you are married, your wife would know the full details of your spending . well some of my friends say that they can change the adress to the office. but i say to them that there is some documented list of your spending. which can be traceable easily.
Advantages.
1. saftey for money. well you can use debit card instead isnt it .
2. use all your credit limit and go back to india . no one can do nothing.
so my dear people, all that i want to say is....caard geeekaaavooo...adhi ninnu nela nela nela gokuthundi .
Posted by: Mr. MAHESWARA MAHI At: 25, Jul 2005 4:38:42 AM IST
U don't under use becoz, u end up paying annual fees, etc. U don't over use, as u cannot come out of the vicious circle of payments and interests due.
Posted by: DoBoy At: 24, Jul 2005 11:55:59 AM IST
what is plastic ? u mean implant? did the atm donate money really how come?pl throw some light on that.
Posted by: DoBoy At: 14, Jul 2005 11:02:13 AM IST
Boon For Wife ;)
Bane For Hubby :)
As Long As You Are Smart And In Control, They Are Good.
Posted by: Mr. Raj Raj At: 13, Jul 2005 7:51:48 PM IST
One great advantage for sure is a person new to a place, country, not knowing whom to ask money, or say in dire need, does not want to ask friends and feel embrassed if they refuse, then credit card is the best option. You can draw cash and also use for ur shopping needs. The best tip:is use the credit card to buy all things for the month and pay it in full after say 45 or 50 days of interest free credit or next bill. The advantage is u get either airmiles, or points accummulated to redeem for other things like get waiver on annual fees, etc.
Posted by: DoBoy At: 13, Jul 2005 6:57:00 PM IST
One great advantage for sure is a person knew to a place, country, not knowing whom to ask money, or say in dire need, does not want to ask friends and feel embrassed if they refuse, then credit card is the best option. You can draw cash and also use for ur shopping needs. The best tip:is use the credit card to buy all things for the month and pay it in full after say 45 or 50 days of interest free credit or next bill. The advantage is u get either airmiles, or points accummulated to redeem for other things like get waiver on annual fees, etc.
Posted by: DoBoy At: 13, Jul 2005 6:56:03 PM IST
As long as it is not used beyond ones economic limits, it is really a boon to the card holder. In the financial circle, almost all the business firms do exist only on the interest. They rely on the psychology of card holders especially the pulse of middle class people. That is why they give fecility to pay the amount in instalments.
So, much might be said on both sides as the proverb goes.
Posted by: Mr. VIRABHADRA SASTRI KALANADHABHATTA At: 13, Jul 2005 6:42:30 PM IST
Thats the reason why CC companies offer "free for life" type cards also! They wait till we commit a mistake and once committed, they will suck our blood.
CC is a double edged-knife. It should be used as it is supposed to be used. While using a CC just think as if u r paying money from ur pocket right there, instead of thinking that u can pay later. That would minimize the impact.
Posted by: Bahud♥♥rapu Baatasaari At: 13, Jul 2005 6:41:46 PM IST
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