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Usage of Credit Cards
By peace | August 12, 2007
Credit cards have bring so much convenience to consumers and business people. Not only in terms of convenience, credit cards can help us to save money. This is especially so for cash back credit cards and the more we use our cards, the more cash back we shall get. I used to have a Standard Chartered Credit Card. There are cashback for a certain period of time. I had enjoyed a lot of savings and I enjoyed it.
However, some people have misuse credit cards. Instead of using their credit cards for convenience of using cashless transaction, they had charged their credit cards with almost anything cheap and expensive, and they refused to pay the full amount every month when the bill comes. Every month, they have to pay late charges for bills that were not paid. Soon, the credit cards have more and more debts. In the end, the credit card cannot be charged anymore. To solve their problems, these people often look for Balance transfers so as to achieve a lower interest rates payment for their ‘bills’ or loans. It was merely a tools which were used to ‘have loans’ with the banks involved. I find that such people should be barred from using credit cards. For these people, Compare credit cards have become part of their lifestyle and their habits and hobbies. However, I feel that these are the people who need financial planning education.
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