Credit cards are convenient products but often misused. The misuse of credit cards often lead to financial stress.
Credit cards are useful and can add a layer of protection and comfort in your life but they can become a pain when they go unchecked. They can help you in moments of emergencies but can haunt you for years on end.
Evaluate the benefits and ask yourself:
- Is the terms and conditions still beneficial to me?
- What benefit is it for me to have this card?
- Are there better alternatives?
Experts will tell you to stay clear of credit cards. But, every where you turn, you’ll find credit card advertisements luring you back.
The reason is that credit cards do have benefits that may outweigh the negative stigma that follow them.
Credit card benefits range from establishing credit to earning reward points and even extending warranties. They’ll give you an extra layer of protection beyond a debit card and can be a recourse when disputing with a seller.
Credit cards do have drawbacks often leading to overspending that lead into debt.