CREDIT CARDS - POSITIVES AND NEGATIVES

In recent times majority of Americans are living beyond their means- thanks to the privileges offered by credit card companies. Its been seen that an ordinary American family owns at least three credit cards.
It is easy to get a credit card here provided you have a good credit rating. Credit card companies send credit card application forms to every family.
A person would say that credit cards are very much helpful because they can get anything and everything whenever they want to buy something and they do not have the cash in hand. However, the problem comes during paying time and they do not have the money to pay for their credit cards.
When these situations arise, the principal amount loaned would increase depending upon the interest rates. Sometimes, the credit card companies can already get back the principal amount loaned just by the amount of interest they are asking credit card owners to pay.
However, owning a credit card is also a must in some places as it is the preferred payment scheme by most establishments. There are establishments that are only accepting credit card payments.
Credit cards should be used only when it is required to and the establishment does not accept cash or when you have to make emergency purchases or payments. When you get a credit card, make sure you know how to use it and where to get the extra money to pay for the credit card debt. Or else, you may land up in trouble.