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Are Credit Cards Really Helpful?

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Essay title: Are Credit Cards Really Helpful?


Money has always been an issue of extreme importance to everyone and especially to business-minded people who strive on having more and more of it in everyway possible.

Ways to deal with finances in all its aspects have preoccupied the minds and legal thinkers of financial companies all over the world. In the late 1960's, banks started introducing credit cards and this started a "credit card boom" that is continuing until now. There are so many types of credit cards that one does not know which ones to choose anymore. In example, there are the pre-paid ones and business ones as well as the golden ones. The worst kind though is the ones that do not require having a bank account and which are being given to anyone these days, regardless of whether he/she is qualified to hold it, like a teenager or even persons having spending and shopping addictions, for example. In the before-mentioned cases, the benefits of giving out a credit card to these persons are much fewer then the disadvantages of doing so.

Because the concept of self-restraint is not successfully mastered by everybody, not everybody is qualified to receive a credit card: a person getting the credit card for the first time might feel that there are no limits to what it can buy for him and will start using it a lot more then he should, thus resulting in overspent money and even bankruptcy in some cases. If a person has a smoking addiction problem, it is considered foolish to place him in a room full of smokers because that would make quitting much harder because of a bigger temptation. The same goes for a person having a spending addiction; giving him a credit card would result in him giving in to the urge to spend more then he can afford.

Imagine being the owner of a credit card and it got stolen from you. What would your first thought be? Sure it would be about what the thief can do with it, and you would be right to think of this. The one who stole the credit card can buy numerous expensive things with it before you have the time to report it stolen.

There is a major reason for people to beware of a credit card and it is the following: A person who can just buy anything he wants at anytime he wants it, will sooner or later loose the value of the things he has been buying and will no longer understand the true sense of gratitude that comes with the ability of buying a new (much wanted after a while of waiting for) product or clothing or any kind of object.

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(2009, 12). Are Credit Cards Really Helpful?. Retrieved 12, 2009, from

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