subject: Credit Cards - Are They A Blessing Or Silent Torture? [print this page] Every invention that has been made use of is defined by the very way in which it affects a persons life. The truth is that the credit cards were made to make a persons life easier. A little plunge into the ancient times would show you that people did not like to take a hefty amount of money with them whenever they used to go somewhere. Taking a huge amount of money would mean inviting a massive risk of being robbed by pick pockets or worse bandits. Thus in a way accessibility to huge sums of money was considerably less. Handling of huge sums of money was always considered quite impractical and a lot of people have suffered in the hands of robbers because of this.
With the help of a credit card, you can carry a huge sum of money under lock and key. A credit card is a card that is issued by the bank and acts as your portable key to your bank account. All you have to do is buy something and hope that the shopkeeper has the credit card facility available so that you may buy with the help of credit cards. Nowadays with the increasing popularity of credit cards, there is little or no doubt that the majority of shop keepers would use this facility to help give the people convenient means to buy their things. There is a limit on the credit card shopping that you can do but the truth is that the limit is quite libertine and you do not have to be a prisoner to the amount of money that is stored up in your bank account.
But this very liberty can also be the cause of a noose around your neck if you do not use the credit card consciously or responsibly. There are a lot of people who would run quite free and wild when they are provided with credit cards as they seem to think of credit cards as the ultimate shopping tool. Well have you heard the saying what goes around comes around? It is exceptionally true and seemly in the event that you use credit cards for shopping. Credit cards do not make up invisible money, with the help of these cards, you are either accessing money that is present in your bank account or you are accessing money that might be invisible but belongs to the bank and you would have to pay the bank back for every penny that you take from it. When you have to pay back money that you use with credit cards then let me warn you that you would have to pay a little more than what you spend. It is the amount of interest that you have to pay over the price or principal amount of money that you take from the bank. The total amount that you would have to pay back to the bank will be the principal amount of money plus the interest; in short you would have to pay a huge sum of money.
