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Q.

Advantages and disadvantages of plastic money

Tags: advantages, disadvantages of plastic money
Asked by sukhi, 16 Apr '08 07:38 pm
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Answers (3)

1.

after getting plastic money one becomes sukhi
Answered by mahavir sharma, 16 Apr '08 07:45 pm

 
  
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2.

Advantages

A credit card can:

1. Offer free use of funds, provided you always pay your balance in full, on time.
2. Be more convenient to carry than cash.
3. Help you establish a good credit history.
4. Provide a convenient payment method for purchases made on the Internet and over the telephone.
5. Give you incentives, such as reward points, that you can redeem.

Disadvantages

On the other hand, credit cards can:

1. Cost much more than other forms of credit, such as a line of credit or a personal loan, if you don't pay on time.
2. Damage your credit rating if your payments are late;
3. Allow you to build up more debt than you can handle;
4. Have complicated terms and conditions;
Answered by sudesh, 16 Apr '08 07:53 pm

 
  
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3.

I realized the importance when i used it to swipe Rs165000/- for my fathers bypass surgery and did not had to beg from any one., the dis advantages are for people who can not afford to pay back and keep on swiping it for their luxuries.
Answered by Kamlesh Panchal, 16 Apr '08 07:44 pm

 
  
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