Credit card – Blessing or curse

Credit Card – It is also known as Plastic money. The use of credit card has been increased immensely. It is very good invention but still people don’t know the proper use of it. Nothing comes free in the world. Many people while spending through credit card thinks that it is not going from their pocket and get shock while seeing credit card bill.
Here we will explain you the benefits of the credit card and things to keep in mind while using it.
Normally credit card gives you up to 40 to 50 days credit days, which mean you can buy something and pay after 40 days. This is useful if you don’t want to carry cash or you are expecting income in future but want to spend in present. If you lost your purse then you might not get your money back but you can stop your credit card use by calling the customer support. Most of the shops or hotels have the facility of payment through credit card. It is useful in the online shopping also. Nowadays online shopping has become very convenient way for the shoppers and credit cards plays important role in it. I would like to call credit card as convenient card.
Getting a credit card for the salaried person is easy. Normally Credit Card Company calls you for promotion and the documents are also less. Credit limit is normally depend up on your eligibility. As your earning capacity increase and if you are making your payment regularly then credit card companies would be more then happy to increase your credit limit. They provide add on card for your family members also.
Reward points help you to earn from your spending. Whenever you spend through your credit card you earn the reward points. After accumulating good amount of reward point you can redeem it against some gifts provided by the company. Credit card companies also provide the option of balance transfer. If you have more than one credit card then you can transfer the balance of one card to another card and pay after some months either for free or for low interest rates. They charge some processing fee for the same. Credit card also gives you cash limit, which means you can withdraw money from ATM through your credit card in case of emergencies. Make sure that you pay the withdrawn amount ASAP, because the interest charged by companies is very high. If you make your credit card bills regularly then it will help you in getting home loans, as it shows good repayment capacity of cardholders. Companies also provide insurance on the card. Please get all the information from the company itself. Ask your friends and relatives about their experiences of customer support of their cards.
One should never forget the deadline of payment of credit card bill. You will be charged some fixed late payment fee charges and interest on the amount till the time you make payment. Some companies use very bad methods of recovery. If you get harassed by the company then you can complain about them. One needs to be careful while handling credit card. There are chances of theft and misuse also. Don’t make habit of paying through credit card. You might end up buying things which you don’t want.
All I want to say is that if you use your card properly then it’s a blessing otherwise it’s a curse.