Credit cards, a necessary evil

Whether its hype, or banks ubiquitous marketing
methods or actual need, it now seems unavoidable to
live without a credit card. And now they are
relatively easy to get.

If you have a pay-slip, you can always get one. There
are even others designed for the subprime markets, for
people with NINJA status (No income, no job no

It’s hard to get a hotel booking (in some hotels, at
least) if you are card-less. The many internet firms
selling merchandise online will require you to pay
using a credit card.

The reality is that the cards are not for everyone,
and those with less than rosy credit card history will
find that it is actually hard to acquire one, and with
the interest charged on some of them almost equivalent
to the price of an arm and a leg, many exasperated
credit card customers are opting out.

The trick that many who are annoyed by their credit
cards don’t seem to appreciate is to stay below the
limits of your credit.

Unless someone is confronted with an emergency and has
to incur some expense, there is no reason for one to
flush out the card at the slightest excuse. The best
thing is to use them as they are real cash.

Self-esteem is said to influence how one behaves in
public, and if by flushing out a plastic makes one
feel good in public places, the person may find out
that that self-esteem is under attack when the bills


Move on, Credit Cards

Banks and other entities with interest on credit cards
often like waxing lyrical on the supposed many and
manifold benefits the cards bring to the holder. And
they have not been unsuccessful.

The major credit card holders (Visa, MasterCard and
American Express) handle transactions of over US $ 6
trillion each year, according to The Economist
magazine, and more than a third of American adults
hold at least one credit card.

But now it may be the time to move on from the cards.
Online payment systems are beginning to catch on. And
the mobile phones operators are also giving the
payment market a long and hard look (Safaricom, a
mobile operator in East Africa, already allows
subscribers to send money to third parties by using a

As for online payments, a Silicon Valley firm, PayPal,
has become an undisputed leader of online payments,
and currently boasts of over 150 million accounts

Other players who are fast catching on include
Google’s Checkout and MoneyBookers.

But credit card companies have clout and won’t give up
without a fight. Many online transactions using some
of the modes mentioned above will still require you to
“verify” the payment, preferably using your credit
card information.

And online payments are not without their risks, and
many people have lost their money by entering their
financial information onto some phony websites
masquerading as the real thing. But as technology
changes, credit cardís edge on convenience will look
more and more beatable.





Publisher Bio:Nick Naggar, publisher, is a contributing editor at,,,, and, among other sites, where you can read more articles about Arts, Business, Education, Family & Society, Finance, Health, Fitness & Nutrition, Pets & Animals, Sports, Recreation & Outdoors, and Technolgies.You are welcome to link to this article page from your website, subscribe to and use the Article Feeds (RSS) on your website, as well as copy and paste this article as along as you keep this Publisher Bio box for copy rights purposes.

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