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#CreditCards a " Yes" or a "No" ?

Decided to write an honest opinion on the usage of credit cards & whether it is "As bad as it made out to be" or "That good as claimed" !!

Disclaimer: This is MY experience & my opinion on the issue addressed at hand .
Points in favour
1) #Convenience !!
2) Lot of reward points .Yay!
3) Usage at airport lounges & movie tickets & the likes (subject to T&C)
4) Extra time to repay the debt. Duh !! Who doesn't like that!
6) Kind of a status symbol . Mere paas AMEX card hai ,
hain.... 😎
Points against usage

1) Too much convenience results in thriftness. We end up spending much more.
2) Reward points come with a host of T&C. Are we actually being rewarded also ?
3) Freebies to keep our inflated ego in check . Many a times changed/stopped overnight! 🤷

4) Annual charges , theft of card .
5) Extra time to repay the #debtat a EXTRA HIGHER COST if defaulted !
6) Default shall result in CIBIL score plummeting . What status left ? 🤔

I guess I have covered most of the debatable points.Both of them are right in their ways.
But then we are forgetting the most important point ...

Instant liquidity + Convenience .

This is much needed especially during emergencies . At that time having a Credit Card helps immensely over F.D's.
Let me cite an example. .
A few yrs ago my dad had to be admitted at 2am due to a stroke & a massive attack . July rains are brutal here & the hospital ( a great one but without humanity) demanded 3lakhs as upfront deposit .I was alone but
things went on smoothly thanks to the Credit cards . +
Imagine the consequences had the card not have been there. The Golden hour would have passed ... Things could have gotten messy.

This here is EXACTLY why I prefer Credit cards . Now the next thought that would spontaneously arise in our minds. It being ,
" Why keep a card only for emergency ! We have medical insurance ! We have F.D 's ." 🙄🙄🤷

This looks good in hindsight. But 99% of the times things don't click instantly during emergencies . For planned surgeries , YES.
For emergencies , sadly NO.
Trust me .😇
Also let us all think practically for a minute here .
Isn't use of cards convenient for us youngsters & people who are well versed with using them ?

So then what exactly is the issue?
The Card or Is the issue in us for not being disciplined enough ? 🤔

The trio along with Credit cards make life so much simpler & hassle free !

PROVIDED ..... ( Yes , everything is subject to T&C 😉 )

1)We draw a decent salary.
Makes little sense to own a credit card otherwise !!
2) We know to differentiate between #Needs & #Wants .
3) We use it EXACTLY like a Debit card ,but in lieu of it .
( i.e - We know we have the money to repay the debt . And NO, it WON'T be from a future income . Our bank account must reflect it !!) .

4) We use it FOR OUR advantage and NOT LET IT USE us ! Mind control being the key here .
Frauds too can be avoided ( though not altogether .. but there are recourses available . )

5) Various apps are available that help us keep track of the expenses & repayment date.

To sum it up !
A credit card if used SENSIBLY is an added advantage .
However it is a CREDIT CARD afterall & NOT A MONEY PLANT that shall generate cash before the due date .

Afterall , Credit cards are meant for those who DON'T ACTUALLY NEED ANY credit ! 😉🤷

The end.
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