credit card essay, please kindly assess it.

[allen_zhang]

Nowadays it is easy to apply for and be given a credit card. However, some people experience problems when they are not be able to pay their debts back. In your opinion, do the advantages of credit cards outweigh the disadvantages?

Credit cards have become increasingly popular and it is all too easy to obtain one these days. Some people often end up with financial problems when they overspend with their credit cards. Even through, I still believe that the drawbacks of credit cards are outweighed by the benefits of them.

It is true that credit cards may bring troubles to some people. Having a credit card, people are given an opportunity to spend money they do not have and are allowed a minimal amount of monthly repayment. Some people, especially those who lack self-control, may find them in real financial difficulties when their debts build up and cannot repay them. As a result, they may end up losing their homes and their whole family will suffer from their reckless spending, which is often too later to regret.

On the other hand, credit cards can certainly help people in many ways. Firstly, credit cards give people access to money and the facility to pay it back later. This could be extremely helpful in case of emergencies. For example, when parents are short of money to pay their children’s tuition fees, they can use their credit card and pay the money back later. Secondly, people may find credit cards very convenient when they are traveling overseas. They can pay their accommodation, transportation and other things with credit cards needless of exchanging their money to foreign currencies. Lastly, the use of credit cards encourages consumption and stimulates economy. So, the whole society can benefit from it.

To sum up, while I accept that credit cards may be of certain risks for people who lack self-control, I tend to believe that the they do more good than harm to people and the society.