Should We Buy on Credit Cards on Installment

We buy on credit cards on installment to think that it is convenient for us to pay. But it is the worst option. Credit Cards are almost curse for middle class families. We can't afford a credit cards as well as buy through credit cards on which we have to pay a lot of interest.

Credit Cards Charges:

Different Banks offer different types of Credit Cards. Each card has its own benefits. But you have to pay annual fee for this Credit Cards. The annual fee wary from bank to bank and card to card. There are three kinds of cards which are used mostly.

1. Silver

2. Gold

3. Platinum

Silver Credit Cards fee is almost 4000+ rupees of some banks. Gold has more annual fee and so on.

Credit Cards Discounts:

Some stores offer discounts on Credit Cards but the price of these stores is as high as a man from middle class family can't even think of buying from that store. So why should we get a Credit Card for discount.

Credit Cards for EMI

UBL Credit Cards, HBL Credit Cards, MCB Credit Cards, AlFalah Bank Credit Cards and the Credit Cards of some other banks are used to buy things from Daraz on EMI. Daraz offer 0% mark up. But the reality is that it is useless.

We have to pay too much for buying on EMI. First of all we have to pay the annual fee of that card which is almost 4000+. After that we have to pay almost 1.5% of the whole order for EMI activation. After that we have to pay interest. The interest rate is also to much high.

What should We do with Credit Cards

We should not use credit cards. We should wait to buy things instead of buying on interest. If we wait for some time to buy something, we can save our money. So we should work economically. We should save our hard earned money.

Final Words

The technology has made our life easy but we have to pay for it. We pay for everything. We buy a mobile phone and we pay for it. It made our life easy. Now what should we do before using the latest technology?

Firstly, we have to reconsider that is it necessary for me? If the answer is yes then go to next step.

Secondly, find out the pros and con's of that technology. Find out that how much it cost me and how much it give me.

Thirdly, if it gives you more then how much you invest in it then use it. Otherwise say it good bye.

Now think about the Credit Cards. If you think that these cards will give you more then how much you pay for it then get it. Otherwise wait for the best time to buy.