Since the advert of credit cards, using them as a means of purchasing goods has increasingly become adopted by a growing number of consumers. We have witnessed incredible advances in the field of credit cards that make our life easier. Nevertheless, there are disadvantages that must also be taken into account.
There are many benefits to shopping on credit. To begin with, owing a gredit card gives you the convenience to buy now whatever you want and pay in the future. For example, a newly married couple, who has no other funds, can equip its new home with furniture and other appliances by using a credit card. In addition, lots of people find it safer to go shopping carrying only a plastic card than large ammounts of cash, as they can easily be robbed. Last but not least, the growth of purchasing power helps businesses to develop and has a positive impact on economy in general.
However, there are many detrimental elements that cannot be ignored. First and foremost, as the owner of a credit card can buy anything he wants, he can easily lose control and buy on impulse. Owing this plastic money, he acquires, sometimes, useless things that otherwise he would never buy because he could not afford. There are many cases, where people have led themselves to bankruptcy due to their uncontrolling shopping. Furthermore, although the public consider plastic money safer than cash, there are people who specialize in stealing card numbers. So, you can be charged without ever knowing it. Moreover, another important issue to consider is that privacy is lost since all purchases are made by credit card. Companies know your purchasing habits and the government your financial situation at any given time.
In conclusion, it can be stated that credit cards are here to stay. As this shopping method is becoming more and more popular and replacing the ordinary ways, it is in our hands to use it in an advantageous way and protect ourselves from the risks that are hidden.
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