And where will the money come to pay after a float period of 45 days or 90 days or so? The writer is just tempting ordinary people in an innovative manner to go for the purchases which one normally can not afford to buy. Never use a credit card. This is a social evil. Living on borrowed money will sure invite troubles. In case you are in need of a genuine credit, look for the other options. Please do not rush to credit cards. Mighty and powerful card issuing companies are working against ordinary citizens just to make money. In fact, the government of India should bring out harsh legislation against the mindless use of credit cards.
RE:Use of Credit Card is a social evil
by AMIT KUMAR on Apr 16, 2007 06:12 PM Permalink
You will have to pay back the debt amount anyways. The author is just saying that you get a margin of 45 days. It is useful in the cases if you are expecting funds in the near future and it is imperative for you to make a purchase before you have those funds. In such a case you can use a Credit Card.
There are always good things and bad things associated with everything. Nothing is good or bad in absolute. Credit Cards are good if you identify your spending limits and spend in those limits.
The author is just asking you to be prudent while making a purchase through a Credit Card.
RE:Use of Credit Card is a social evil
by Jermina Menon on Apr 16, 2007 02:27 PM Permalink
i think this is totally incorrect. If one thinks while spending money i.e. cash, one needs to think the same while using a credit card. Its money in a non-cash form. People over-indulging and over-spending cannot be a reason to stop issuing cards. As per your logic, government can decided how much we need to spend for our daily baisc needs and allocate us only that as salary!!!
RE:Use of Credit Card is a social evil
by arun singh on Apr 16, 2007 03:20 PM Permalink
Gujrat Government has recently stopped students from getting a credit card. Such laws should be enforced by every government.
