The Credit Card Effect


The term ‘credit card’ simply means ‘issuer lending money to the consumer’. A credit card company allows the consumer to ‘revolve’ their balance, at the cost of having interest charged. I had 2 credit cards before but threw them away because I realized that it has no value to me. To me, is more con than pro. Anyways, I’ve listed the pros and cons of a credit card and how it affects the general public.


  1. Extremely Convenient
  2. It is small and easy to use. All you need to do is just hand it over to the cashier, check the amount credited and sign.

  3. Safer than carrying around a lot of cash.
  4. If you ever get robbed, all you need to do is just dial your credit card company and block your credit card. That’s it!

  5. An extra source of money in emergency situations.
  6. Since I stopped using my credit cards, I had difficulties during days when I forgot that I had little cash in my wallet. It happened once when I went out on a date and had to ask her to pay for me first. It was super embarrassing!

  7. A means of building up your credit record which may eventually help you in purchasing a home, car. etc.
  8. Some credit cards do help you in purchasing assets.

  9. Accepted at most businesses in many countries worldwide.
  10. Generally, every consumer oriented business will surely use credit cards. Example ; Hotels, Restaurants, Shopping Malls, Gas Stations, Supermarkets and etc.

  11. Benefits and Points.
  12. Enjoy privileges and rewards such as frequent flier mileage, cash rebates which are provided depending on specific credit card companies.


  1. Extremely Convenient
  2. This point is also a con as you may charge too much and may not afford to pay up in time.

  3. May be stolen and used fraudulently.
  4. If you do not cancel quick enough, they robber may have already use it to stock up on tons of Chivas at the local wine house.

  5. Scams
  6. A favorite target for scam artists. So be careful about who you release your credit card info to.

  7. Very, very high interest
  8. Penalties for late payments may go up as high as 20% or more! It’s 2 in 1. Not having enough money to pay up and increase in debts. More problems instead.

  9. No self discipline
  10. Personal misuse may lead to debt and/or a poor credit history.

  11. Benefits and Points.
  12. Some credit card companies have absurd requirement points to meet to be able to exchange for rewards.

Here’s a team of people in UK who have taken the time to explain the differences and benefits on available credit cards deals. They categorized their findings into 3 categories which are :

  • Balance Transfer Credit Cards
  • Know the best and latest balance transfer credit cards to choose from. They will explain on how used correctly 0% balance transfers credit cards can save you money on interest payments.

  • Reward Credit Cards
  • The more you spend the more you get back.

  • 0% on Purchases Credit Cards
  • Making many large purchases by using a 0% credit card with 0% APR on purchases saves you interest and could be cheaper than taking out a personal loan.

* Sponsored Review *

credit cards
To get or not to get


One thought on “The Credit Card Effect”

  1. Thanks for sharing a good list of pros / cons of credit card. It looks to me that you are well aware on the matter of credit card. However, I am pretty sure that you will eventually pick up 1 or 2 credit cards later in your life. It is not the fault of credit card, but the person who use it. It is always much easier to blame on others when things get messed up. Check back all the points in the cons, they all can be easily avoided if one has the right attitude and discipline in using it.

    To me, credit card is an ingenuous innovation!

Leave a Reply

Your email address will not be published. Required fields are marked *