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Credit facilities advantages and disadvantages
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[QUOTE="Caramelle, post: 208216, member: 150"] [JUSTIFY]Credit cards can be a useful tool for people who know how to control them. It can help extend one's capital when the business has a short-term need for funds. As long as the total amount due is paid in full every billing cycle, a credit card holder doesn't even have to pay interest on its use. Thus, if you can come up with a business idea that has a short operating cycle, credit cards can be considered as a viable option for obtaining the needed capital. Credit cards offer a convenient way to obtain credit in times of emergencies when banks are closed or when there are limits to the amount of money that you can withdraw from a savings account on any given day. Some credit cards offer cash-back, airline fare credits, and other rewards for using them. Imagine being able to travel by paying for it through credit card points or enjoying rebates on your regular purchases. Credit cards can be your worst enemy if you use them indiscriminately and abuse their powers. Having a credit card readily available for use can be an irresistible temptation that can weaken your resolve and discipline to work hard for the things you want in life and delay gratification for things you can't afford. Charging expenses and purchases far beyond the amount you can afford to pay back will eventually ruin your financial life. When that happens, you will be paying more for the privilege of using the card through interest than for the value of goods and services you have purchased. [/JUSTIFY] [/QUOTE]
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