Introduction of plastic money and the gradual transformations

 

The advent of plastic money has redefined the way consumers purchase and the way the total dynamics of the market works. Plastic money or credit cards have given the utmost liberty to the consumers and customers globally. The credit cards enable us to spend the money that we don’t possess immediately. The target audiences are those who have a large propensity to consume but the means are limited. This revolutionized way of spending money all over the globe has increased at a very drastic pace. This is a new phenomenon altogether, which has been introduced to liberate the people with a limited source of income by providing them easy monthly schemes to pay off their debts. A huge sum is broken down and the customer has to pay a very minimum amount every month.

Why should one use this?

To purchase with a credit card one has to face no hassle at all. And nowadays, the advancement of technology and the upgraded banking system has transformed and made the plastic money more secure and safe. Now, it is almost a child’s play to order anything over the internet, and the most convenient way of making the payment is by using the credit cards. The credit cards are more easily acceptable than the debit cards while making any purchase from a foreign country, as many international e-commerce websites will not accept a debit card but will readily accept a credit card.

Pros and cons of using a credit card

Purchasing with the credit cards will seem to an irresistible and insatiable hunger initially. But, the problem lurks just at the corner when one fails to pay the minimum amount mentioned in the monthly statements of the credit cards. The interests get compounded and the credit card companies levies many hefty fines. When used in an orderly fashion this is one of the most essential and sometimes even acts as a life saver, as any and almost every hospital or nursing home readily accepts the credit cards of any company. What should be avoided while using the credit card is to make any purchase of a humongous amount whose easy monthly installments are a real pinch for the pockets.

The real benefits of plastic money

Plastic money becomes a life saver when one has to buy anything is a huge bulk. The credit card companies comes up with many schemes and offers every now and then, even while purchasing air ticket or during any kind of travel arrangements, the credit card companies provide many benefits to its customers. Any online purchase with a credit card adds a certain number of score to the customer’s profile, which in the near future can be encashed or is exchanged for certain gifts. Insurance is one of the prime features that the credit card companies provide nowadays to its customers. Credit cards are very often used to pay the hefty course fees and quite often it enables the many parents to pay for their children’s education.