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Who Needs a Credit Card
Consumers, who faced all the delights and convenience of using credit cards, very often become the real "credit addicts" and are not able to resist the numerous temptations. It is so easy to see something you've always dreamt of in the supermarket, get out the piece of plastic, and the cherished thing is yours! This is the real today's analog of a magic wand. And then the everyday existence begins, where you have to pay your debts and interest. As a result, the purchase, which is not so vitally important, turns to be considerably more expensive, than when paying cash.
In the end, the desperate consumers, who can't resist the moment delight of buying goods, start to blame the banks and insist on the legal prohibition of credit cards. Of course, it's not a way out. The person, who accepts every first credit offer, who can't evaluate the pros and cons of promotional deals, who is not used to making calculations, is about to get into a trouble. On the other hand, the consumer, who can reasonably estimate his needs and abilities, will find a great help with a credit card.
Moreover, such person may even not know, what percentage rate the bank set for him. Besides, the low APR is not the most important thing to consider! The reasonable consumers have gradually learned to investigate the pay rate plans, to read the credit contracts and fine print, and to deny the bad credit offers. As for credit cards, you have to pay attention to the 3 key factors.
1. The level of service following the issuance and maintenance of the card (including the convenience of paying off the debts).
2. The grace period and the details of its estimate.
3. The bonus system, offered to a cardholder.
It is likely that you may have several plastics in your wallet with different combinations of the key factors.
Let's conclude the main "for" and "against" of bank credit cards.
Against. If you belong to a group of so called "impulsive purchasers", a credit card is a too sharp generator of temptations for you. The credit card companies admit that the most part of credit card purchases have spontaneous origin. Later, the person may regret about these purchases. In this case the person should refuse from the owning of a credit card.
For. A credit card is a great lifesaver. If you clearly estimate the opportunity of paying off the debt within the grace period, you will get "free" money for making purchases at supermarkets, cafes, and gas stations. A plastic may help you save. Very often cardholders can get different rewards and bonuses, such as cash back at merchants, air miles rewards, gasoline credit cards etc. So, when choosing a credit card, you should evaluate your needs of the particular services.
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