Receiving your credit card statement every month must be the opposite of fun, but once you have a closer look, credit cards are pretty amusing!
No? Perhaps you might have heard horror stories of credit card debt and ruined credit scores.
So, Are credit cards making our lives simpler or complex!
Credit cards have become a huge part of almost everyone’s life. They are growing in number just as much, if laid end to end all the credit cards on earth would circle the globe 3.5 times.
Yet most people who use credit cards don’t even bother to calculate their expenditure until they are in the vicious cycle of debt.
Would you rather live a debt-full life or a debt-free but cautious life? Any rational person would opt for the latter but would you really like to be haunted by credit card limit cautions in real life?
Well, if it is at the cost of living a debt-free life you might want to say yes!
Remember Rachel had to break of her credit cards? And then off-course, “Welcome to the Real World, It sucks! You’re gonna love it!”
A credit card issued by a financial institution let you borrow funds from a pre-approved limit to pay for your purchases.
But these credit cards can be one’s best friend in times of crisis yet it won’t take long for them to turn into your worst enemy.
Without a doubt, credit cards serve us impressive perks like rewards, cash backs etc but the youth is getting so used to these credit limits that it is forgetting to even keep a track of what they earn and what they spend.
Nearly there are 10,000 Worldwide credit card transactions every second. That sure sounds insane but no one can escape reality!
What if there were no traffic signals? Would be a mess, right?
Warning signals even on credit cards should be striking. In the absence of it, people use credit cards without a motive and knowledge of being burdened with heaps of credit in the long run but when used rationally, you might consider using it more than debit cards. Besides too many offers and cash back, credit cards also reduce the possibility of fraud losses.
To sum up, what is the harm if you are warned about your credit card limits while you keep track and enjoy your credit!