Are Credit Cards Good for Daily Use?

A credit card company charges businesses for purchase processing just like a debit card does, and so they have a separate revenue stream from each card in any case. So even for individuals who never go into debt, it is still lucrative for a credit card company. So one can’t make the argument that “they’re only giving you a credit so you go into debt.”

However, credit cards come with their own benefits that must also be take into account: You get protection on purchases you make, which is particularly important in this age of online purchases and international trade (For Example who’s going to track down a company that’s gone bust in the Philippines for your trainers?). Also, when travelling abroad most people will take a credit card along with them due to the lower costs and better exchange rates.

Its best use is of daily purchase you make at supermarkets and groceries, petrol, utility bill payments, buying electronics or jewelries and converting the purchase into monthly installments. 

What’s the alternative to a credit card? Using your debit card, right? However, what we sometimes forget is that when we deposit money into our account we’re lending money to our bank (for them to lend onward and make profit from interest).

A credit card company charges businesses for purchase processing just like a debit card does, and so they have a separate revenue stream from each card in any case. So even for individuals who never go into debt, it is still lucrative for a credit card company. So one can’t make the argument that “they’re only giving you a credit so you go into debt.”

So there you have it folks.

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