Credit card is a negotiable instrument like a check or a draft under banking regulations. Credit card is a financial instrument to order and take money from a banking account. The card is a monetary device to operate a bank account easily. Credit card is a token of identity as a bank account holder. So far, it is considered a bundle of checks and a pass book and a record of monetary asset of the credit card holder. Now, the credit card has become instrumental to the life and death of the card holder.
CREDIT CARD IS LIFE
No one will deny this statement. When you get a credit card, it is for life. Never the less, you can procure more lives; say, you can have more number of credit cards in your life period. The credit card company or the bank is willing to give you the card with a small annual fee. You too must have experienced in getting an annual fee charged in its first monthly statement of account
SURPRISE OR SHOCK
Even if you do not use the card in the first month, have a surprise and a shock to have a fine, an interest and a service fee charged. It is not the company’s fault, but the company’s computer has a command to do so. Please bear with such mischievous things. Be reminded that your credit card is for life.
If you do not wish to pay the small bill, the computer will continue to make similar mistakes repeatedly to add up the unpaid installments, fines, interests and service charges. You will astonish to see the unerring functions of the computer in such cases. Do not think that you have not borrowed anything from the bank; think in the right way that you have borrowed to the extent of the credit card’s application or annual fee. Further that you have defaulted by not paying the installment worth card’s fee.
IT IS A LIFE EXPERIENCE
The credit card is helping in a big way. The account holder need not go to the bank every time to take money from his account. He can use the credit card to draw money from any of the branches of the bank and any where in the terrestrial world and even in the space on the net banking. Credit card is an instrument to buy goods in a department store, pay a dinner bill or buy any commodity available on the net. Be aware that sometimes you will be trapped in the net and could not come out with out spending a sizable amount.
BUY MORE AND GET MORE PRIVILEGE
While spending more, be cautious that the card is for your life. It will come with you till the end. The bank is helpful in extending credit limits beyond your imagination. They make you feel elevated and improved your credit worthiness. You will not see the officer face to face while offering the big loan. But you need to face all that comes after you understand that the interest swallows the principle money kept underutilized. If you feel that you were lucky enough to get more cards, then you will see that all these cards will play with your life more seriously.
PLAY WITH YOUR LIFE’S LIABILITY
These credit cards are for your entire life. You wanted to get a good recognition in the society and you cannot escape from these playing cards. They play with your life. You have been managing by manipulating the payments from one card to the other. The time gap between the withdrawal and repayment helped such manipulations. After sometime, it becomes difficult as the interest and fines engulfs the meager resources. Now that all the credit cards show unpaid debts, the problems turn out to be worsened. The income is declining while the interest and installments are increasing.
DO OR DIE – AN ADVERSE CONDITION
All the credit cards helped to find money so far, now play with your inability to pay back. The cards trigger a bad wave of insecurity and threaten to find a legal solution. Please avoid thinking about your death coming closer, when you recognize the credit cards’ unruly recovery methods. It is now detrimental and may lead to nervousness and fear of death.
CREDIT CARD DEBT CONSOLIDATION To escape from the disastrous condition, one needs to know about credit card debt consolidation and repayment by a special arrangement. You will find a way to live a life beyond the dangerous zone. Learn about the newer idea of consolidating all your debts under the cards and pay them out with a single loan and start repaying the new one with all the integrity to make a life worthy of living on this planet.
Pnk Guru is a Bank officer turned Businessman, a Business Strategist and a Versatile Freelance Writer now guides the youth to escape from the hardships of using credit cards.