Disadvantage of credit card

                                                           Disadvantage of credit card

                                           





1.more spend:-when people get access to credit card then they start to spend more money because they think that I have not to pay now I can pay that amount after few days. when people spend money using debit card or cash that time they think if I spend all money now what will I do or where I will lend money for my future expense . It means his psychology tells him don't spend more money while they spend money using debit card 

2.Interest on cash withdraw:-cash is more aceptable payment mode rather than digital payment in I ndia. you can withdraw money from credit card as well as but you will be charged interest on cash withdrawl .this rate of interest will be similar to interest on late payment.i f you bymistake use credit card instated of credit card to withdraw fund then credit card isuer charged interest. this purpose can be more harmfull for you.

3.Interest on late payment:-when you get a credit card,and  you check the charges, then see the interst on late payment is 1% or  2% depending on the issuer,nad this seems very resonable .but this is not anually if its 2% month means 24% per year only in interest if your payment is late even one day interst is not calculate for even one days only you paid late interst is charged for 50 days from the date of transtion to date of payment that's where banks make money.

4.Anual maintanance charge:-many credit card issuer give you a credit card for free but you need to pay anual charged from second year or you need to spend a minimum amount on the credit card, if you don't spend more then you have to pay charges. to save anual charges you may spending more. there is no free lunch, nothing is truly free. if you use something at no cost or free to you then what are you using is not the product, you are the product

Comments

Post a Comment

Popular posts from this blog

Image
  NESTLE MAGGIE NOODLES  ETHICAL & UNETHICAL PRACTIC JOURNEY OF   MAGGIE  IN INDIA : HISTORY OF  MAGGIE  BRAND 1982 - 2019 Maggie , one of the most iconic and popular brands of noodles, which is favored by the millions all across the world, has been spreading happiness for more than three decades. Known as the 2-minute instant noodles, it has gone on to make the lives easier for the people, when it comes to quenching your craving for the food immediately. “Mummy Bhook Lagi – Bas 2-Minute” , this line from the Maggie advertisement The journey of Maggie in India From 1982 to Till date Magi, the name synonyms with the noodles in India has experienced a bumpy ride. From capturing the 90% market share (prior to the ban) of the noodles to getting banned, the brand has seen it all. Let us have a detailed look at the journey of Magi in India: Year 1982 : Nestle launched the first noodle product in India with the brand name, ‘Magi’ with the s...
Read more

Earn from credit card

Image
                                             How can you earn money from credit card 1. Earn interest:- Most of the people uses debit cards. when they purchase something using debit card that time they have to pay all amount. but if they purchase something using credit card that time they have not to pay any amount that time. one month after the purchase bills are generated and after that they give more than one month to pay all amount. that means you get 40to 50 days to pay all amount. if you think smartly then you can earn money from that amount. you can earn money from various sources.1. you can deposit that money in  saving account , then bank you will give you interest. one thing you have to keep in my that which bank gives higher interest, you have to invest money that in that acount.2. you can invest  that  money  in your business if you have . 2....
Read more