Benefits of credit Card
In spite of different financial benefit offers provided by financial institutions to their customer, why more persons don't agree to keep a credit card? Can you share your view about good and bad effect of obtaining credit card and what is opinion of customer for keeping credit card.
14 months ago
I use a credit card for speed of transactions for one time purchasing. It eliminates the need to set up an account and payments terms and the negotiation of those terms. Single one-time buys using credit is faster which increases productivity. Point of note - I pay my balance in full each month to avoid interest charges on carrying receivables. The process works well and we haven't had issues using this payment method. All transactions are done over the phone or in person. I never post or email my credit card information as these methods can cause issues if email is compromised.
Everyone needs some kind of payment card in today’s economy. You really can’t operate without one. I think there is a problem when people use it as a credit vehicle versus just a payment vehicle. For those who keep credit cards in place of emergency savings they run the risk of adding high interest debt at the worst possible time.