A credit card is a harmless little plastic device which has the power to purchase goods and services in an instant. It is also a status quo, and during the last decades or so have become the measure of power and success. But is it really harmless, or is it dangerous? Are credit cards friends or foes?
A credit card is a handy extension of your financial capability. Literally, it is a credit line which allows you to purchase goods and services even when you are short of cash. It is built around trust and credit worthiness. During emergencies, a credit card is heaven sent. All over the world, many sickness have been prevented from the purchase of medicines and medical services, many stomachs have been fed and similar other incidents when the credit card was the only form of money available to one. Especially nowadays when virtually everybody accepts the credit card as a form of payment, credit cards can be very powerful tools and can come in handy in times of troubles and emergencies. Look at it from this point of view and there is no doubt that credit cards are safe.
But if credit cards were so safe, how come there are many lives destroyed because of it? Because of the spending power it provides even with the absence of absolute cash, consumers all over the world have taken to “swiping away”, losing control over their expenses and exceeding their spending capabilities easily. In this case a credit card seems to be a very dangerous tool.
But if you look at it more closely, the credit card is really just a piece of plastic, and it is not the credit card per se that is either dangerous or useful, rather it is the credit card holder’s attitude towards spending and his discipline on using the card. It is therefore very necessary that one should exercise self-restraint, prudence and caution when using the credit card.