In an era of fast cash, people go around with an array of credit cards. Some flaunt a fistful of cards arranged like a sheaf from a pack of playing cards.
Does your spending increase due to credit cards? The thinking seems to suggest so. Shop keepers actually dislike credit cards because they eat into their margins but are pretty much compelled to accepts them-simply because other shopkeepers do. Competition is the name of the game.
MyIris gives some tips on using your credit card. So too does Deutsche Bank.
If you use them sensibly, credit cards are a boon. As we would say in India “Credit Card, Zindabad!” (Long Live, Credit Card)
I definitely think spending increases with credit cards. I am often frusterated by the overall lack of personal finance knowledge taught in public schools. In a world that continues to move electronically, ordinary citizens must have basic personal finance knowledge to avoid debt. It’s to easy to swipe a card and worry about the consequences later. In my opinion, continuous learning and education is the only way to alleviate the credit craze!