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Disadvantages Of Credit Cards

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Being an alternative to cash, credit cards bring many comparative benefits to a customer. Credit cards boost the purchasing power and help individuals to improve their lifestyle. Very often, due to tight budget consumers can barely afford luxurious goods and services and live their desired life. However, using a credit card expands the purchasing capacity allowing customers to spend without a hitch and settle their balances at the end of the grace period. It is very normal for people to have cash crunch, in such time, credit card is useful source of expense. Cardholders can comfortably spend money for their transactions which will not hinder their way on living.
Credit card allows customers to save money, by taking advantages that the issuer provides; discounts on using credit card for online purchase, cash back and even collect point where cardholder can benefit from exclusive gifts from issuer when reaching a certain amount of credit purchase. Online shopping are in vogue nowadays, where customer can shop anywhere around the globe by merely sitting behind their computer screen.
Credit card allows customers to better organize their finances as each month, a statement of all their expenses are handed over to them. Credit cards may categorized invoices of tax
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The rate of credit fraud in USA is appalling and is keeping on accelerating. Victims take many years to recover from the situation and waste equal time to prove their credit worthiness. Fraud can happen in various ways; through the loss of a card or fraudulent applications. online shopping is a rising concern. Surveys indicated that 90% of payment for internet shopping are through credit cards and fraud occurs on nearly 5% on all transactions. Normally fraud occurs within hours of theft that’s why it is of utmost importance to report a credit card lost or theft within 3 days of
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