Plastic is No Longer a Luxury

by : Ajeet Khurana

In the past, credit cards were availed of by those who had money to spare. 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 were associated with wealth. But things have changed a great deal. 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 go out on a shopping spree. These days, they accompany us wherever we go, allowing us to purchase necessary things with the greatest ease.

With credit cards now being available to all classes of people, credit card providers are looking at higher profit margins. People today have so many different varieties to choose from. What is great is that most of these credit cards have attractive options. The terms of repayment are very pro-customer, and one can easily get great bargains. With competition on the rise among credit card providers, they are left with no choice but to provide hefty discounts so that more customers can be won over. 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 some really cheap credit cards. It really is a dream come true for the person who does all his buying through a credit card. Even shifting from one credit card provider to another is a whole lot simpler now. Many companies are now offering 0% balance transfers. Thus, even switching credit cards has become rather common, with each person looking for a better bargain.

The large number of credit card providers and deals in the market also bodes well for those who are on the lookout for credit card deals. The providers are working on various incentives 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 even before they can form financial opinions. The negative of this catch them young policy is that younger holders might be struggling with debt even as they enter the workforce. However, the advantage is that they will gain some experience of financial affairs even before they start earning. Credit cards are here to stay. What are we waiting for?