Debit Card and Plastic Money
Reecting
INTRODUCTION
Plastic Money is a must need of our busy life. Today it is very easy to carry money without having a lot of cash or gold. Keep Credit or Debit cards and forget the cash money. This is a new idea of present life-style which has made money transition so easy that anybody can carry it with him or her in a pocket. Today plastic money is the best alternative of the cash.
It is also safer to traveling with a plastic money card than cash. If it is stolen you may contact to bank immediately and can block your money from getting stolen. It gives you also better option as extra purchasing capacity, protection of money and much more. Likewise advantage plastic money has disadvantages also. Now we would study of following advantages as well as disadvantages:
We can’t ignore the necessity of plastic money in our life. This is the one among most important needs of our life. Plastic money or credit/debit card was a new idea in its starting but it was welcomed by the people because of its usability and benefits.
There is no doubt that credit/debit cards are useful and essential for us but they have some disadvantages as their uses. To be habitual of cards may be harmful. Here we will read about disadvantages of plastic money.
Disadvantages:
* Over Budget: Plastic money gives us an easy and extended purchasing capacity which results in an extra and unwanted buying. These cards give us discounts and bonus also on particular stores or items, which encourage us to get them and we use our hard earned money for a non-required thing, which affects our budget and we can’t handle our monthly budget system. * Increased Debt and High Interest Rates: Credit Card provider financial institutions and companies charge high interest rates (may be 10% to 25%) on extra money if you fail to pay off up to the fix date of the month. This interest is their earning, for which they give you extra buying limits then your money. This is not a good idea that you owe loan
INTRODUCTION
Plastic Money is a must need of our busy life. Today it is very easy to carry money without having a lot of cash or gold. Keep Credit or Debit cards and forget the cash money. This is a new idea of present life-style which has made money transition so easy that anybody can carry it with him or her in a pocket. Today plastic money is the best alternative of the cash.
It is also safer to traveling with a plastic money card than cash. If it is stolen you may contact to bank immediately and can block your money from getting stolen. It gives you also better option as extra purchasing capacity, protection of money and much more. Likewise advantage plastic money has disadvantages also. Now we would study of following advantages as well as disadvantages:
We can’t ignore the necessity of plastic money in our life. This is the one among most important needs of our life. Plastic money or credit/debit card was a new idea in its starting but it was welcomed by the people because of its usability and benefits.
There is no doubt that credit/debit cards are useful and essential for us but they have some disadvantages as their uses. To be habitual of cards may be harmful. Here we will read about disadvantages of plastic money.
Disadvantages:
* Over Budget: Plastic money gives us an easy and extended purchasing capacity which results in an extra and unwanted buying. These cards give us discounts and bonus also on particular stores or items, which encourage us to get them and we use our hard earned money for a non-required thing, which affects our budget and we can’t handle our monthly budget system. * Increased Debt and High Interest Rates: Credit Card provider financial institutions and companies charge high interest rates (may be 10% to 25%) on extra money if you fail to pay off up to the fix date of the month. This interest is their earning, for which they give you extra buying limits then your money. This is not a good idea that you owe loan
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