It is hard not to misuse credit cards
With the development of information technology, electronic-commercial is a must for any country on the road to success.
The United States is a good example.
Hong Kong too is moving towards a cashless society where almost all sorts of transactions will be done by credit cards.
It may appear that you are getting an expensive’ gift for a nominal annual fee which the banks may not charge during the first year as an incentive.
But do we really benefit from these credit cards?
Of course NOT!
It is not an easy task to persuade anyone to buy something even the price is low enough, but credit card can do so. It is an evil to steal your money and to make you forget about financial problems, for one can buy anything without paying cash. This attitude always makes us buy more and more things without necessity.
So, we needlessly spend on things ignoring the fact that at the end of the month a huge amount of money has to be paid back. If you fail to pay, banks will charge interest.
Other than that, I can't see any points that credit card is useful. So, why don't we pay cash instead of using this small card? Just give the sales the amount of money that it should be, then all these complex processes and dangers can be omitted, why not? Then all these problems can be avoided.
No doubt, credit cards provide banks another way to earn more.
But for customers, it means losing more money.