In many countries it is easy to apply and to get a credit card. However, credit card debt causes many problems and is hard to pay back. Do you think the advantages of credit cards outweigh the disadvantages?

In many countries it is easy to apply and to get a credit card. However, credit card debt causes many problems and is hard to pay back. Do you think the advantages of credit cards outweigh the disadvantages?

In contemporary times, a school of thought propounds that credit cards are convenient to use but people often struggle to repay them to the banks. The following paragraph shall discuss the advantages and the hurdles for the buyer and decide whether the former over-shadow the latter.

To start with, credit cards have become a modern way of spending money in the major cities. Many of the online shopping applications have credit cards as the only mode of payment. These cards are generally considered as a luxury rather than a necessity. Banks also lure the public to use these cards more often by offering them cash back and reward points. The advantage of buying the goods today and paying later provides them a chance to schedule their expenses. Spending and paying back on time also creates a credit history of the user, which helps banks to determine the maximum amount of loan that can be offered based on the credit scores.

However, such actions bring the user to a position where the buyer often overspends on the products which are not even required. Credit cards usually come with a limit of three times of the existing salary. This habit of unnecessary purchases ends up consuming the entire allowable limit and brings a number of problems like, not being able to pay the banks before the due date or not having sufficient money to pay and ends up missing the payment which even worsens the credit score.

Overall, it is true that credit cards are a modern-day trap where individuals get into a loop of earning, purchasing and paying. I strongly agree that these cards are more problematic than beneficial. People should buy things as per their pockets rather than on credit.

In many countries it is easy to apply and to get a credit card. However, credit card debt causes many problems and is hard to pay back. Do you think the advantages of credit cards outweight the disadvantages?

 In many countries it is easy to apply and to get a credit card. However, credit card debt causes many problems and is hard to pay back. Do you think the advantages of credit cards outweight the disadvantages?

Nowadays, it requires little effort to acquire a new credit card, but does the use of this new tool prove more rewarding, or is it more of a bane, a matter that needs a profound analysis.  

To embark upon the discussion, this form of plastic money has made life literally effortless in many ways: there is hardly any need to plan a budget before going out shopping; one can make purchases anytime without having to depend on carrying money. For instance, while paying bills at the cash counter one might fall short of cash, in that case, one would either pull out some items from the cart, or rush to an A.T.M. Moreover, users of these facilities can avail exciting offers: discounts, reward points, and so forth. In a crisis, many middle-class people depend on credit cards for their daily living and they get a certain time period to make repayments to the banks. 

Nevertheless, there is always the other side of the coin. It has been observed that  while using this mode of transacting many often end up spending more than what they afford, which pushes them into serious financial troubles, making  them vulnerable to exorbitant penalties, fines, and a poor credit rating, and so forth, and  eventually,  crises, stress, worries, and anxiety, among others. Furthermore, since the proliferation  of this form of money, instances of bank frauds all over the world have also witnessed a steep rise, making people pay back for the purchases they have not done.  

To recapitulate, every coin has two sides, but credit cards are laden with a plethora of advantages, which eclipse all the pitfalls. Hence, I believe that one must make prudent use of such privileges.

In many countries it is easy to apply and to get a credit card. However, credit card debt causes many problems and is hard to pay back. Do you think the advantages of credit cards outweight the disadvantages? - Ielts Essay

In many countries it is easy to apply and to get a credit card.However, credit card debt causes many problems and is hard to pay back. Do youthink the advantages of credit cards outweight the disadvantages? - Ielts Essay 

As the plastic money becomes more popular across the globe, some people have become concerned about the long term financial implications of this mode of transacting on the users. Some  experts feel that because the credit cards are luring people into debt traps, the plastic money has proven to be a malady for its users, while some feel otherwise.

# Ielts Essay 

Relaxation in the banking norms and terms and condition of credit card services has helped in proliferation of plastic money and more and more people are able to avail these services quite easily. The payment card is truly in vogue, and it has revolutionized the concept of transacting. These cards offer unprecedented flexibility to their users, and now, the people intending to go for shopping do not need to carry heavy hard cash with them. People are able to make purchases of any amount without having to worry about falling short of cash.  

 Ielts Essay 

Besides the unprecedented freedom in making payments, the subscribers to the payment cards services also enjoy a fair level of protection against theft and loss of money, like they are no more exposed to instances of pick pocketing, and in case of the credit cards being lost or stolen, the banks and institutions offering plastic money insure users against the fraudulent use of their cards.

 Ielts Essay 

On the contrary, some people feel that credit cards are creating several problems. The plastic money being an attractive medium of transacting pushes people into a shopping spree often luring them to spend beyond their financial feasibility.  This creates a vicious circle, which taxes the financial resources of the people.

 Ielts Essay 

In conclusion, I feel that although excessive use of credit cards can lead to several problems, plastic money is a convenient mode of transacting.

 Ielts Essay