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Avoiding the Dangerous Seduction of Credit Cards

Money has always been an essential commodity in society. It moves the world’s economy. It is always necessary to have a little cash on hand is lost or stolen then it’s gone for good.

Credit cards, these days, are an important commodity. They offer a variety of benefits in place of cash, benefits that can be so amusing that it lures you into getting a card. Advantages of having a credit card include ease of purchase, purchase protection, emergency fund, building a credit line and other benefits that differ from company to company.

Firstly, credit cards offer ease of purchase , and also offer purchasing power over the internet in the comfort of your home, without having to tackle the various issues of going to the store itself. Many stores nowadays offer such online services. Also, it provides you with some security, carrying no cash, and if the card it lost or stolen it just takes a quick call to your Card Company, ensuring that subsequent purchases by any thief would not have to be paid by yourself. Secondly, it offers purchase protection, in the event that you lost your purchase receipt. Your credit card statement can provide proof of purchase. Another advantage is that you have money that you could access quickly in times of emergencies, like flood, fire, accidents. You may exceed your budget but these things would be necessary expenses which you could work into your budget to pay off.

Having a credit card and having a good credit rating these days helps a lot in applying for a job and being accepted. Employers consider having a good credit rating indicates being a responsible and disciplined individual, who handles their money judiciously. Some Card Companies also offer other benefits like life and travel insurance, certain store discounts and others that offer convenience and ease of living.

Most usually people get a credit card as it offers instant money which can be spent when you don’t have the cash at the time of purchase. This, together with card companies benefits offers like store discounts, encourages people to buy more than they really need. Ultimately, before you know it, your expenses mount up and you find you have gone over your budget. Then the extreme credit card interest commences and puts you in much more debt. Having a credit card can be beneficial if used wisely, but if not it could be the beginning of a life of misery weighed down under debt and even bankruptcy for some.

Wise use of credit entails responsibility and to avoid downfalls you must keep track of your expenses, stay within your budget, and pay up due balance at the due time.

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