Plastic Is No Longer A Luxury
Luxury was the word that we once linked with credit cards. However, in today's world, they are on their way to becoming a necessity. In the past, credit cards used to be flaunted by the people who carried them. They indicated one's financial status. But the situation is very different now. With everyone owning multiple credit cards, credit card holders are no longer an exception.
They are fast becoming the rule. Moreover, credit cards are no longer looked upon as temptresses that make us unable to resist buying more and more. These days, they go everywhere with us, allowing us to purchase necessary things with the greatest ease. I still remember the time when I got my first credit card. I opened a student account in the credit union of my university and got a credit card without any questions asked.
At that time, I did not know how lucky I was to get a card with such great ease. Since that was the first plastic that I possessed in my whole life, it was tough to be responsible. But I was a business major and knew all the pitfalls of bad financial management. So better sense prevailed and I maintained top notch credit history. With credit cards now being available to all classes of people, credit card providers certainly are doing well. People today have a mind-boggling array of credit cards. What is great is that most of these credit cards have attractive options. The terms of repayment have become much simpler, and there are great bargains to be found. With competition on the rise among credit card providers, they are left with no choice but to provide hefty discounts in order to expand their clientele. Thus, there are deals like 0% interest credit cards and cards that offer various kinds of rewards including cash back and travel rewards.
The credit card seeker today has much to choose from. Not only are there scores of credit card providers, but each provider also offers credit cards of great variety. It really is a dream come true for the person who depends on credit cards for everything. Even shifting from one credit card provider to another is a great deal simplified. Many companies are now offering 0% balance transfers. Thus, even switching credit cards is no longer the exception, with each person seeking a better deal. The large number of credit card providers and deals in the market also bodes well for those who are looking for great new deals. The providers are trying to come up with various perks to bring in the customers. They are now targeting teenagers and young adults who are still in school and college. The aim now is to catch them young and build brand loyalty.
The negative of this catch them young policy is that younger holders might be struggling with debt before they even land a regular job. However, the advantage is that they will gain some experience of financial affairs even before they start earning. Credit cards are here to stay. Are we ready for them?.