Nowadays plastic money replacements such as credit and debit cards are extremely popular , even more than bank notes and coins. Discuss advantages and disadvantages of this include your personal opinion and examples based on your own experience.

Credit card has become essential life-tool for this modern-generation. However, these days credit and debit card are extremely renowned rather than bank notes and coins. Although, this phenomenon consider plethora of merits and also there are some demerits which will be elaborated in upcoming paragraphs and my point of view would be mentioned in the conclusion. To commence with, there are many advantages regarding credit cards. First and foremost, these are very convinient use and majority in the businesses. To add it, credit card are also good and beneficial for purchasing and these days this materialistic world use these cards over the phone and through the online shopping and these cards provides special discount, especially in the festivals. Moreover, these cards are the good assistant in emergencies like healthcare services for instance, if a person on a holiday and has a medical emergencies then that person face no problems in future for paying bills of hospitals and consist better treatment. This, credit cards are beneficial and that is why they become popular. On the other hand, there are several cons of this debate. Firstly, if people does not pay off dues then they become under the debt due to fact, like last fees, interest and penalities build rapidly to demonstrates, in 20th century in U. k, four citizens are not capable for returning the bank money and they considered huge amount of debt. Secondly, teh most overlooked negative aspect is cash holder tend to overspending to cite an example, studies proved that 40% spending increased as comparison to those time when individuals have no credit nad debit cards. Addition to this, these cards can be easily hack and people loose their money and also through this online world these cases are exceeded. At last, in my perspective there are many advantages and demerits of that debate which is elaborated. Despite, pros and cons are based on person hands and also people should avoid overspending.