Plastic money has a lot of appeal to youngsters since money is hard to come by at that age. If an indulgent parent hands out an add-on card for emergency usage it's the best gift one can get. But usually each time one is a little short of cash out come the Credit Cards. Every occasion is an emergency. Eventually the card is confiscated when dad hits the roof seeing the bills and theres no excuse to save face with.
My first Credit Card was almost presented to me on a platter. It was sometime during my second job that the personnel desk executive off handedly inquired if I would require a credit card along with the debit card. I didn't even get time to compare Credit Cards before I nonchalantly replied 'Obviously I would'. Paperwork was completed and supporting documents supplied by the company. 10 days and some impatient waiting later my glittering Silver Credit Card arrived coaxing me to spend a little more than I could afford.I wasn't unaware of the evils of a credit line. So I swore to myself I would treat my card just like I would treat some friends money in my account.
The first opportunity to be able to inaugurate the card presented itself. It was like the card wanted to be used. Mid-month treat for a group of friends was something no one with my salary could afford at that time. My next promise was to pay up as soon as I got my salary, and I did.
Opportunities kept cropping up every now and then. I never realized when the opportunities turned into needs. I kept spending like no ones business, be it for shopping to tend to my mood or taking friends and relatives out. My payment was regular so the credit line kept increasing. Pleasant bank executives would call to offer better cards or higher lines or loans without papers. Sometimes I would accept, other times I would politely decline. It felt pretty good to be offered so much when I kept hearing about people whose cards got canceled or credit lines reduced. One principle that I stuck to all through was to not accept a second credit card even if the executives sat outside my door and begged me to accept.
Amidst all the adulation, I didn't realize when my balance was pretty much out of my range. It hit me when I quit my job after four and half years to pursue my higher studies. The responsibility to pay for my immaturity and irresponsibility fell on my father. It was not difficult to understand that it was a high price to pay for being kind enough to bear my expenses while I studied.
The Credit Card is still there with me now though it is being used as it should have been earlier รข€“ for emergencies. A card is a necessity since we never know when we might run out of cash and be in dire need of money. Mainly when studying or working far away from parents or relatives who can help at time of emergencies, a credit card is the best bet. Usage of the card needs to be monitored by us responsibly.
Credit Cards are a boon if they can be used properly. The banks do their parts to help the customers. There are lots of offers available on cards. Some credit cards give a discount on purchase of gas while other cash back credit cards return a percentage of purchases made at certain stores. The cards can be custom designed too. A Silver Card, Gold Card, Party card, Petroleum card, Grocery card etc. The choice is yours since the services are out there to serve every special need. There are also reward points on purchases made using the card. Reward points allow you to choose a gift or gift voucher from the kitty made available to you according to your card usage. It can be anything from a wallet to a hair dryer or some other electrical appliance.
The credit card companies also help you monitor your accounts and usage. Paper or e-statements are offered every month. Analyzers are also available to check on the spending habits and be warned well in advance. For large purchases, often there are offers to break the amount into suitable installments to make payments easier or affordable.
End of the day, the credit card companies do their share of easing customers into proper credit card usage policies. It is not all their responsibility either since its their bread and butter and they have a right to make a profit out of seducing people to avail means to spend more. In any case, one should compare Credit Cards thoroughly before availing any offers being made in the market. Credit Cards can be a real friend if we listen more to the sensible side of us than the one with the horns, tail and pitchfork.
My first Credit Card was almost presented to me on a platter. It was sometime during my second job that the personnel desk executive off handedly inquired if I would require a credit card along with the debit card. I didn't even get time to compare Credit Cards before I nonchalantly replied 'Obviously I would'. Paperwork was completed and supporting documents supplied by the company. 10 days and some impatient waiting later my glittering Silver Credit Card arrived coaxing me to spend a little more than I could afford.I wasn't unaware of the evils of a credit line. So I swore to myself I would treat my card just like I would treat some friends money in my account.
The first opportunity to be able to inaugurate the card presented itself. It was like the card wanted to be used. Mid-month treat for a group of friends was something no one with my salary could afford at that time. My next promise was to pay up as soon as I got my salary, and I did.
Opportunities kept cropping up every now and then. I never realized when the opportunities turned into needs. I kept spending like no ones business, be it for shopping to tend to my mood or taking friends and relatives out. My payment was regular so the credit line kept increasing. Pleasant bank executives would call to offer better cards or higher lines or loans without papers. Sometimes I would accept, other times I would politely decline. It felt pretty good to be offered so much when I kept hearing about people whose cards got canceled or credit lines reduced. One principle that I stuck to all through was to not accept a second credit card even if the executives sat outside my door and begged me to accept.
Amidst all the adulation, I didn't realize when my balance was pretty much out of my range. It hit me when I quit my job after four and half years to pursue my higher studies. The responsibility to pay for my immaturity and irresponsibility fell on my father. It was not difficult to understand that it was a high price to pay for being kind enough to bear my expenses while I studied.
The Credit Card is still there with me now though it is being used as it should have been earlier รข€“ for emergencies. A card is a necessity since we never know when we might run out of cash and be in dire need of money. Mainly when studying or working far away from parents or relatives who can help at time of emergencies, a credit card is the best bet. Usage of the card needs to be monitored by us responsibly.
Credit Cards are a boon if they can be used properly. The banks do their parts to help the customers. There are lots of offers available on cards. Some credit cards give a discount on purchase of gas while other cash back credit cards return a percentage of purchases made at certain stores. The cards can be custom designed too. A Silver Card, Gold Card, Party card, Petroleum card, Grocery card etc. The choice is yours since the services are out there to serve every special need. There are also reward points on purchases made using the card. Reward points allow you to choose a gift or gift voucher from the kitty made available to you according to your card usage. It can be anything from a wallet to a hair dryer or some other electrical appliance.
The credit card companies also help you monitor your accounts and usage. Paper or e-statements are offered every month. Analyzers are also available to check on the spending habits and be warned well in advance. For large purchases, often there are offers to break the amount into suitable installments to make payments easier or affordable.
End of the day, the credit card companies do their share of easing customers into proper credit card usage policies. It is not all their responsibility either since its their bread and butter and they have a right to make a profit out of seducing people to avail means to spend more. In any case, one should compare Credit Cards thoroughly before availing any offers being made in the market. Credit Cards can be a real friend if we listen more to the sensible side of us than the one with the horns, tail and pitchfork.
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