People today increasingly use credit cards to make monthly purchases. Do the advantages of this outweigh the disadvantages

Over the last couple of decades, we have familiarized ourselves with the use of advanced payment methods. Credit cards provide great convenience to the human race. Credits cards are widely used for our regular expenditures and we are heavily relying on them. In this essay, While credit cards present certain drawbacks, I strongly believe that the advantages surpass the disadvantages of this payment gateway. Firstly, the cardinal advantage of this type of payment is that a person is no longer required to carry an excessive amount of cash when purchasing anything. Consequently, It's quite convenient and safe to simply put your bank card into your wallet and carry on with your shopping. Furthermore, your cash flow may automatically be generated through either your telephone number or your account, this adds up a level of control over your expenditures. For instance, when an individual finally buys a home, he or she can't just pay with cash, because the amount of money is just quite monumental. As a result, this cashless payment is more beneficial. Secondly, another major merit of using credit cards is that banks and other federal institutions can now have a much simpler auditing process on how the general population is spending. Therefore any nation could regulate its financial system accordingly and promote its economy. In addition, if a bank member wants to take a loan, the bank could have access to his credibility, this would help the banker decide whether to lend or not. People with a good credit record, for example, can easily get their mortgage when purchasing a new home. That being so, paying with new technologies can promote a more reliable economy. In conclusion, although there are some limitations to using credit cards, I strongly believe that credit cards are here to stay and revolutionize the way we buy things.