Debit and Credit cards
have become an integral part of our daily lives. In fact it is impossible to think of living without them. Anybody might need money at any point of time. Since it cannot be predicted when you are going to need money, these cards have come as a great option. The invention of plastic money has altered the scenario altogether. These cards are easy to operate and provide convenience of transaction. These cards have removed the burden of carrying cash. One just needs to carry the cards to any of the ATMs worldwide. It is especially useful for overseas travelers. For the globe trotters, the ATM cards are extremely option as one can swipe them at important locations anywhere in the world.
Plastic money has come as a great alternative to traditional money. It comes in form of cards under different categories of credit cards, debit cards and prepaid cards. They have provided an easy way out in situations of financial emergencies. In case of urgent need for money one can use these cards for instant money. They are extremely easy to carry and can be used at ATM of any bank. Although, it requires utmost security in handling but with proper security measures they have come as a boon in financial transactions. One just needs to insert the card into the ATM and follow the instructions on the display screen.
These cards come in categories of credit, debit and prepaid cards. The credit cards offer the most as they can be used for optimal use. These cards can be used without much limitation and users virtually have a free hand in withdrawing and spending money.
Credit card: this card has plenty of options but it should be used with attention. In case of falling into wrong hands, it can cause untold loss. So, maximum security and preventive steps should be taken when using it. On one hand, the credit card liberates the user with practically limitless spending, on the other there is risk of debt trap. The user of the card has to pay back the card company which ‘spends’ on behalf of the user or customer. This should be taken care of while shopping. One should be fully aware and cautious while spending and over spending must be avoided at any cost.
Debit card: This is a relatively secure option. It allows for spending only within limits. Although at first thought it does not seem to be a good option, but it is better because there is no danger of debt trap. One cannot withdraw money after her or his bank balance is finished. So, it offers a great option and security as well from the debt trap.
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