Credit Cards—Boon or Bane
Mighty)
Do you have a credit card with you? How’s your experience with it so far? Is it a boon or a bane?
Credit Cards are a Boon! It helps you purchase expensive items that you don’t normally afford. With credit cards, you have that extra purchasing power in your reach. Your refrigerator, washing machine, TV, computer, laptop can be bought easily if you have a credit card.
Some schools are even allowing mommies and daddies to pay the tuition of their kids via credit cards. The world is fast becoming a cashless world and credit cards are paving the way for this.
Credit cards help you sign up for Paypal and other online membership programs. This way, you can learn how to make money and have the means to do it. When you log on to Amazon.com and other online shopping sites, you can easily choose the products you like and you can get them nice and easy.
Credit cards are a Bane! They give you a false sense of security because of available credit for you. With a credit card, your wallet appears bigger than it actually is. You get a false sense of security and you feel that you can spend and spend and spend your way to happiness.
If you fail to make your monthly payments, the banks are gonna hunt you down until you become like a cornered animal, unable to turn anywhere. Then you become desperate because of your debt.
Credit cards can also be used fraudulently. People can steal your identity. They can use your credit cards without your knowledge. Before you knew it, you’re mired in debt while another person is richer because of your money.
Credit cards, while they are one of the best features of our modern world, can easily put shackles in us. They can put us in prison because of non-payment. Imagine living a life of running away from debt? I wouldn’t want that!
So, what do you think? Are credit cards boon or bane? Are they good or bad for you?
The answer is in how you use them. If you have discipline and good financial management schemes, you can easily surmount the challenges.
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