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Credit cards do more harm than good. 1. How convinced are you that the argument is...

Credit cards do more harm than good.

1. How convinced are you that the argument is "valid" (on a scale of 1-100%)? Why?

2. What would it take for you to change your mind?

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Answer #1

The statement is 90% valid.

Credit cards cause way more trouble than they are worth. Everytime we use credit card to pay we are living beyond means . It causes people to get into debt and paying high interest rates. The terms are not known at the time of issue of credit card. It seems lucrative at first, but the debt and pressure it brings is not worth the money spent.

The usage of credit card for the purpose of fulfilling immediate cash liquidity for unavoidable expensesis a boon. The usage of credit card if limited to the very essential and urgent cash requirements like health care service is a facility. Apart from the above, the spending habit formation by credit card comapnies are taking people down to debts .

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