Customers on both the sides of the credit card fence have valid points whether to use or not use credit cards. While there has been an increase in the number of users of credit cards across the globe, Credit cards have received mixed reviews from customers.

Pros of using credit cards
Plastic money has made life easier. The use of credit cards simplify personal spending and finances in the following ways:

• Ease of use: As compared to cash, credit cards are faster and easier to use while making any purchases. Swipe your card and you are done in seconds.
• More purchasing options:

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Cons of credit cards
While credit cards have a lot of benefits, there are some downsides to them as well.

• You spend more than you can afford: Credit cards give you an additional purchasing power and an illusion that you have more money than you really do. People end up spending more than they can afford while using credit cards.
• Reduces future income: Every time you use your credit card, you are borrowing money, which you have not earned. You will have to repay this amount in the future. This reduces your future income.
• Expensive fees and interest: Depending on the type of card you use, the credit will cost you over time. You will be liable to pay penalty fees if you do not repay the amount in due time.
• Potential for debt: Every time you use your credit card, you create a debt for yourself. You can keep off the debt by paying the balance on time every month, but if you only pay the minimum amount, your liability will increase and you will end up in a debt trap.

While there are a few negative aspects, if used carefully, credit cards can be a boon for you.

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