Using credit cards is trendy which helps us in financial crisis and emergency situations. It largely improves once financial conditions when used properly. From the wide range of available credit cards choose the best one which is designed for different people with different needs. You can check credit cards promotions in the Philippines for the year 2015 in websites and enjoy the discounts.
Advantages of using credit cards
Carrying cash in hands may be heavy and feel insecure, but having credit cards makes the way easier. If the purchased item been lost or stolen, credit cards offer you additional protection. The credit card company will take the responsibility for the fact that you have bought an item from the store even though the bill receipt is lost.
Some credit card companies provide insurance for large purchase of things. Try to maintain a good credit history throughout the year because it will help you in future for applying loans, some rental applications and for jobs even. Making full payments without delay and on time before due date will definitely build good history.
Always try to use credit cards only on needed times, never spend it to buy unnecessary things when it crosses over your fixed budget. You can spend cards during emergency situations like heavy floods, car breakdown or an accident. Some credit companies will provides additional benefits to customers such as discounts from specific departmental stores or companies, free travel discounts and insurances (life or travel insurance).
This kind of discount offers to the people is to encourage them, to charge more amounts on your credit cards. The above benefits are helpful and real when you use it properly without exceeding the budget limits.
Disadvantages of using credit cards
Credit cards encourage the individual to spend more money exceeding their budget limit which is one of the biggest disadvantages. Most credit cards will never allow you to pay amount within due date. This is because for purchasing a product, you may have only $100 but you will spend $500, at that time it may looks easier but month end you will refuse to settle the amount.
Thus the companies will charge you with interest on every month that you have borrowed. When you fail to pay fee this month the balance amount will be generated for next month with interest. Like this how the credit card companies make profits for him and leave people to pay large debts. Sometimes credit cards can be stolen like cash. It may be stolen physically or stealing the card number alone.
As soon as you realize that your card is missing immediately inform the company and won’t get charged for someone’s purchase. If you don’t realize that card number been stolen, most company won’t charge you more and will charge less like $50 or $25. But month end you will receive the statements.
Look for bdo credit card promos and buy the best card to enjoy the offers. For using bdo platinum credit card you will earn points. The above shows advantages and disadvantages of having credit cards.
