Today, a trend of lending money is becoming prevalent in a large number of people. While some critics are doubtful about its risk, I strongly think that it is a good idea to use credits.
On the one hand, credits bring some drawbacks to users, especially interest and excessive expenditure. First, the credit allows people to pay money later and simultaneously adds up the interest into the total loans, albeit the interest will be significantly increased if people do not pay off balance on time. The adds up repeats and becomes costly-intensive loans, therefore it drags people deeper in debt. Moreover, using credit which is easy and speedy to use leads to the fact that people feel more compelled to spend over budget. This trend can raise more interest in credit cards while they do not realize.
In terms of advantages, people who use credit cards can spread cost over periods and derive their money loss from theft as well as pickpockets. To begin with, credit users can use their necessary devices before their completed payment, so they can save their money for other rudimentary needs to maintain their ongoing living. In Viet Nam, many companies provoke credit campaigns which not only help consumers own a car to drive with their achievable monthly income but they can also control their financial budget. In addition, using money in a card is more secure than ready cash. As many pickpockets and thieves can take advantage of careless moments, they can easily steal or snatch money from pockets. In the reverse situation, if the card is stolen, people can lock it immediately to prevent the loss of money.
In conclusion, although credit cards can gain interest and bolster personal spending, I am strongly convinced that it is advantageous for money-saving purposes and financial safety.