Tips for pleasant and safe use of credit cards

Having said all that, Credit Card is indeed a “Convenience Card” as we have named it. It does come with some benefits, which can be enjoyed, if used in a responsible manner. Some of them are:-

  • Impulsive Spending. You go to the market with a specific purpose, but you get attracted with the new music system on the rack in a nearby showroom. You forget that this was never in your agenda. You end up buying it & enjoy. But when the bill comes you are short of money to repay the bill. You default, and all unpleasant consequences follow.
  • Always keep a back of the mind calculation as to how much you have spent using the card. This will help you in balancing your income to that of your expenditure.
  • Never use a Credit Card for Non-Priority Purchases. It is strongly recommended that one uses the Credit Card Only for Priority Purchases. If you have a desire to buy any non-priority item, always wait for the Extra Income like Bonus, Special Performance Incentive and avenues of such nature, Then Go Ahead & Buy Your Most Desired High End Music System, or whatever it may be.
  • There are times when you go out with friends for Dinner get-togethers. In such situation one single person should always avoid making payment with the Credit Card. Your friends will keep postponing his part of the due to be paid to you, and you would be paying the bills for half a dozen people’s binge trip. This is a classic case. You are caught from two ends here. Hence at all costs avoid flashing your Credit Card & try to pay your part of the Dinner costs & let others pay theirs.

Though we have discussed the disadvantages of a Credit Card, We certainly say that Credit Card is a good Instrument & does give you many benefits, Provided the spending is of responsible nature.

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