Credit cards: Bane or Blessing?

Credit Cards A credit card can be a double-edged sword very dangerous if improperly handled. By cons, if used with discipline and common sense, it can easily become an argument in the sound management of personal finances. If you assume that you never spend more than you earn, and therefore you pay the full amount due on their cards every month, without fail, then credit cards can easily become our best allied and one of the best ways to build credit. Otherwise … they can easily turn into your worst nightmare…

Credit cards can be used absolutely anywhere they are accepted. There are several reasons for this:


Expenses are centralized

When you find yourself with a few bills to pay and all at the same time; it is much easier to manage.


Extended warranty

If you use American Express card, it gives you an additional warranty takes over after the manufacturer’s warranty has expired.


Substantial savings to the key

Many retailers offer additional discounts or free items when paying with Visa, MC, Discover or American Express. These special offers are exclusive to the cardholder. It costs nothing more to use card, instead. For the same purchase it gives you the opportunity to save money, why refuse?


Credit cards, when used responsibly, are a great asset in the arsenal of tools personal finances. They offer peace of mind, ease and convenience; we cannot get with a debit card or cash. In addition they help to establish your credit and allowing you to build a credit rating that allows you to get competitive interest rates if you ever need a loan or mortgage.


Security for online shopping

Always make sure that the transaction is secure (indicated by the “https” at the beginning of the URL), and do not save your credit card information on merchant sites. This is true; credit cards are not immune to fraud.


Protection against theft

If, by chance, your credit card number is compromised or your card is lost or stolen, your responsibility is not engaged as you report the theft within 3 days. All you have to do is to call credit card Company to dispute the amount in question, or report the stolen card. In the case of a debit card the money would have disappeared from the account and it would probably take several weeks or even months to recover.


Protection in case of dispute

If you disagree with the amount that has been debited from your account, you can just play the said amount. This is the credit card company that is responsible for managing the whole. On your side just to prove why you reject the bill. For example, if it is because you have returned an item in the store, you will be asked to prove that the item has been returned.