Advantages and Disadvantages of Credit Cards

The use of credit cards is expected to have many uses for the wearer, providing convenience and benefits to its owner, so having a credit card is beneficial. The case for the bank or financial institution credit card issuers and merchants, credit card should give him the advantage.

The advantages to be gained include:
1. For banks or financial institutions (credit center)
a. The existence of fee (usually annual) charged to each card holder.
b. The existence of the interest expense on customer cardholders who are late making a payment bills of the transaction that has been done.
c. Administrative costs, the fees charged to customers that cardholders will withdraw cash at ATMs.
d. Additional costs due to late payment penalties, other than interest.
2. For cardholder customer (consumer)
a. Ease trade or shop using the card, so no need to carry cash to eliminate the risk of loss and theft.
b. Ease to get cash at any time during 24 hours at various strategic places, making it easier to meet a sudden need for cash.
c. For some communities, Credit card can give pride.
3. For merchants (merchants)
a. Can increase sales turnover, due to the minimal extent possible transaction and cardholder waste because they do not need the cash, the owner of the card will make a deal as he pleases.
b. As a form of service and convenience for its customers, so the transaction is expected to always do the same and repetitive.

Nevertheless the use of credit cards also contain some disadvantages. 
The disadvantage is the risk of a business, but if not done carefully, including:
1. For banks or financial institutions (credit center)
In the event of congestion payments by customers who shop or take the cash, then it is difficult to be billed normally given approval unsecured card issuance precious objects as appropriate credit. Even a guarantee only with proof of income is enough to get the card.
2. For cardholder customer (consumer)
Usually the card holders tend to be wasteful in the transaction, because they feel, do not cough up the cash, so sometimes the stuff that really does not (yet) need to be purchased as well. The existence of some merchants who charge an additional fee for each transaction. The existence of limit spending limits are sometimes too small for shopping, while the value of goods purchased.
However, credit cards are a necessity, especially for urban communities where the efficiency and effectiveness of a primary. Advanced economy, technology and information must be balanced with the product can always go hand in hand. Credit cards have great potential to share in an effort to bridge the needs of human transactions in the world of globalization and information.


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