Benefits Of Having A Credit Card Essay

Benefits Of Having A Credit Card Essay

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After graduating high school most young adults will either choose to go to college, immediately start working, or decide to join the military. Credit card companies often see this as an opportunity to seek out to these people and offer them great deals on credit cards hoping that they will accept their offers. Before these people make the decision on whether or not they should get a credit card they must first know the disadvantages and advantages of having one. It is very important that they know both sides so they make the right choice.
One of the many disadvantages of having a credit card is that people may create debt when they are using their credit card to make automatic payments for their monthly bills. Most credit card holders have no control over their money when they decide to set up automatic bill pay. Bruce McClary states that while people will never forget to pay their bills they can set up automatic bill pay, they can forget to keep enough money in their account and get hit with overdraft fees or penalties for returned payments. Having bills set up for automatic pay can and will cause many people to create debt if they do not watch their account balance. Furthermore, when people use auto pay for their bills, they are not aware of how much they are spending, where if they were writing checks or paying cash they would be more aware. Brigitte Yuille gives a point by saying “Consumers may continuously roll over a balance for several months,” with that being said, when the person decides to roll over their balance over and over again it will add up where they will not be able to pay it in the end and that too will create debt.
People way to often have a tendency to overuse their credit cards as well. It happens on a dai...

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...aid to take a moment and count correct change. Patience is a virtue, so they should help the three nice folks in line behind them and learn it today. Occasionally people who use cash may not have enough money on them, and can not make their purchase. When with a card they will always have enough to pay for the products. In an article written by Steve Gillman he says If people are paying cash for everything, they have to make sure they always have enough currency on them. That means repeatedly stopping at the bank to replenish their funds when they get low. It also means keeping track of how much is in their wallet so they don’t have an embarrassing moment at the cash register. Plus, they have to make sure you get the correct change, mistakes can happen. It’s simply easier to whip out a credit card and swipe it, instead of digging around pockets and wallets for change.

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