Credit card

 

 Now a day there is trend to must have credit card. It will be rhetorical to say that possessing credit card is the prestigious or helps to maintain status quo. It will be the help card that lends money in case of cash crisis to someone.  But this credit card will eat the pocket in invisible way even we don’t aware of it.

 

1. Pay of unnecessary card annual charge

 

   Card holder must have to pay the annual fees of card maintenance. This is not the profitable deal for those who haven’t frequently use card or those who rarely use the card. 

 In fact some of the bank agents offer the credit card for free of cost with no annual charges.  But they recurs charges.  This burdens on your pocket unnecessarily and take out the part of cash from you. 

 

2. It triggers you to buy the stuff

 

 If you have the credit card in your pocket and if you wondering in the mall, it will automatically trigger your mind to buy the things that really won’t need you. 

 It will have the extra Burden on your pocket. Plus if you forget to pay the bill for the item that you pay using credit card, then you will suffer from bad due charges cycle. 

 

3. Credit card force to buy costly things on EMI

 

The disadvantage of the credit card is that it forces you to buy the costly things on EMI. Such as branded phones, electronic items and gadgets. So if you have seen any lucrative gadget that your friend is using it, you will fill ashamed.

This thing forces you to buy the gadgets and other costly stuff on EMI.

No matter how your friend has purchases those items on cash or on card. You will start following to buy things on card as your friends did.

Ultimately you will caught in the debt and due payment cycle of credit card because once  you pay EMI on due date, you will pay late fees and interest on late fees will another trouble.

 

4. Credit card offer make you greedy to buy 

 

 There are plenty of credit card offers feeding you to your mobile phone through messages and social media. These offers look like lucrative but it forces you to buy more and take more offers.

 Usually such kinds of offers take your most of money and won’t prove to be beneficial for you.  Their main purpose behind giving an offer is to trigger the customer to purchase more.

 Of course now days it was a big myth that you will get everything on an offer if you purchase through credit cards.  But actually it won’t happen, you caught in the late payment and due cycle.

 

5. Credit cards blocks your saving habits

 

 It is true that at the moment you buy cards, your saving habits will ultimately diminish.  People often habitual to buy the things. This leads to minimize the saving habits among them.

 They always hunt for the new things to purchase. This kind of habit will never put excess money in your pocket. At the end of the month, finally you will suffered by the cash crisis.

 In order to enhance the saving habits within you, you must avoid the credit card. Ultimately it is important to have some saving to face some of the uncertainties in life.

 

6. Credit card makes you poor 

 

This is the final and most important reason to make you poor, if you use the credit card for long years. There are the cases observed that the bank don’t send the statement initially, so you become unaware of what you have purchased by using credit cards.

 

In this way you will caught in the late pay and due date cycle and you pay more money to the banks than you purchase.

 

You will never realize that the money getting out from the pocket. At the end when there is heavy amount of due penalized for you. You think how to block the card!!