Credit Cards- Are they advisable for purchaseThese days online money transactions are given more importance instead of using physical money.
There are many ways to do these transactions. Online transfers, transfer through Cheques, Debit card payments, credit card payments and paytm. All these transactions except credit card will do the transfer of money as long as you have money in your account. If there is no money in your account the transfer or payment will not be done. But the credit card is different. It will pay the money irrespective of money in your bank account till the limit of that card is over. That means you can make the purchases even though you don't have money.
Sometimes this cards will make us purchase items beyond our capacity. Afterwards, we will be in trouble paying more interest and EMIs to the bank. So I feel as far as possible we should limit the usage of the credit card. Do you agree?