To Have or Not to Have

I am talking about credit cards.

Many credit card holders face financial ruins by overextending credit to themselves. To avoid bankruptcy, some of them had to cut up all their plastics. By using credit cards irresponsibly, few of card holders had already bankrupted themselves.

Recently the US federal governments have enacted some new laws to protect credit card users. But these laws may not be necessary for the 70% of card holders who always pay off their credit card balance before the next billing day as well as for the consumers who refrain themselves from spending the money they have yet earned and from buying things that are beyond their ability to pay.

Based on my own experience, I found credit cards offer me many financial and non-financial benefits. Therefore, I always use my credit cards when shopping.

My reasons for using plastics to pay for purchases are:

• It is more convenient than cash and is safer than having cash in my wallet.
  
• It protects me from unscrupulous merchants.
  
• The cards are welcome and acceptable by almost all businesses.
  
• I can use credit cards to pay even utility bill, tuition, and insurance premium.
  
• It allows me take advantage of bargains on the things I need.
  
• It consolidates all of my purchases and simplifies my bookkeeping.
  
• In an emergency, I can use credit cards to obtain cash.

- Ayee