Page 1 of 2 12 LastLast
Results 1 to 10 of 11

Thread: Credit Card Its Advantages & Disadvantages

Hybrid View

Previous Post Previous Post   Next Post Next Post
  1. #1
    Zealot kfsahiwala's Avatar
    Join Date
    Feb 2008
    Location
    Mumbai
    Posts
    240

    Talking Credit Card Its Advantages & Disadvantages

    At the very outset, I don't know much about credit cards its advantages & disadvantages. I surely tell you that I have not come across any hasstles and troubles of my existing credit card (Gold) of "CITIBANK".

    I really enjoyed using the card and I host many advantages using this card. I redeemed my earning points with the movies at Multiplex only in Fame cinemas and zero percent fuel charges, which has an offer to redeem the points.

    I thanks to "CITIBANK" for availing me these benefits and I am using this card for more than 3 years. I purchased almost all my stuff throgh this card and I accumulated more than 500 points.

    Using credit card is like living or managing with your life partner. If you use your card optimally and pay your dues on time there would no hassles and hindrances with the bank.

    Thanks & Regards
    www.sahiwala.com
    www.houchpouch.blogspot.com

  2. #2
    New Member jasonprince's Avatar
    Join Date
    Jul 2010
    Location
    NY
    Posts
    5

    Default

    The advantage that comes with credit cards is the lack of liquidity. Not need to make is money is covered in plastic. You can buy online with them, contractual services, pay for dinner. The biggest disadvantage of credit is to encourage people to spend money they do not.

  3. #3
    New Member mindybrooks's Avatar
    Join Date
    Sep 2010
    Location
    San Francisco
    Posts
    13

    Default

    Credit cards, seen from a banks perspective are means of encouraging people to spend money they don't have, thus increasing the debt.
    Last edited by mindybrooks; 15-10-10 at 04:35 PM.


  4. #4

    Default

    Advantage is that allow users to use when you do not have money in hand. This allows users to effectively borrow money from the interest rate for the period before repayment must buy now, pay later basis. Enclosed with the cards dealt to other benefits. The card can be, for example, allow consumers to earn money or prizes in their cost.

  5. #5
    New Member mithun82's Avatar
    Join Date
    Oct 2010
    Location
    chennai
    Posts
    1

    Default

    This is the writing of the credit card i have seen in a famous coffee shop, " Credit card is injurious to health "

  6. #6
    New Member jameshyden01's Avatar
    Join Date
    Oct 2010
    Location
    jameshyden01
    Posts
    4

    Default

    A credit card is more than a piece of plastic, which is primarily a flexible payment tool accepted at 30 million locations worldwide, and if the card balance is paid every month no interest is charged on purchases made essentially short-term credit is granted without the consumer to pay interest.

  7. #7
    New Member ptrlee's Avatar
    Join Date
    Apr 2011
    Location
    Singapore
    Posts
    9

    Default

    A credit can be an asset of lifestyle ,especially if we find so easy to use ,but if don’t used carefully it can become a liability.

  8. #8

    Default

    Quote Originally Posted by kfsahiwala View Post
    Using credit card is like living or managing with your life partner. If you use your card optimally and pay your dues on time there would no hassles and hindrances with the bank.
    you are right, i completely agree with you.

    everybody who is using credit card should follow paying the payment in time to avoid over due charges(which really gives heart attack for huge payment due) because they will levy high rate of interest for the amount to be paid back.

  9. #9
    New Member BanksIndia's Avatar
    Join Date
    Oct 2011
    Location
    chennai
    Posts
    11

    Default

    Advantages of using a credit card:
    • A credit card has a wider acceptance and recognition, especially in online transactions.
    • A credit card has greater security measures.
    • Credit cards allow for cash back and bonus points schemes.
    • A credit card can be used as a convenient way to check and record your spending.

    disadvantages of using a credit card
    • The major one is the hidden costs of a credit card in the form of late payments, transaction fees, fuel surcharge. The consumer must take all of this into account before getting a card issued.
    • It is not compulsory for the entire balance to be paid, but the interest is charged on the entire amount, regardless of the part paid. This causes a debt trap for the cardholder.
    • The security of a card is not total and cases of fraud are extremely common even today.
    • Credit cards can be used at ATM cards, but there is a considerable processing fee required.
    for more details about banks to visit banksindia.in website.

  10. #10

    Default

    Hi all! Personally i'm having a bad experience with credit cards. Be careful on revolving ones!

Similar Threads

  1. What is the best credit card to start my credit?
    By janessa in forum Credit Cards and Debit Cards
    Replies: 16
    Last Post: 29-09-17, 12:59 PM
  2. Need a credit card but bad credit history
    By sneha3047 in forum Credit Cards and Debit Cards
    Replies: 1
    Last Post: 01-10-10, 07:36 AM
  3. How long to build credit up after cancelling credit card?
    By Saranna Kira in forum Credit Cards and Debit Cards
    Replies: 3
    Last Post: 10-06-10, 06:03 PM
  4. What does charging my debit card as credit do for my credit?
    By Xanthia Alysha in forum Credit Cards and Debit Cards
    Replies: 3
    Last Post: 30-01-10, 12:31 AM

Tags for this Thread

Share this page with your friends

Share this page with your friends

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •