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Return To Credit Article Archive   Search the Article Archives Credit - The Biggest Opportunity of All By Michelle Herring Credit today is the biggest business of all. Credit cards started a revolution when they were introduced in the market as an alternative to carrying cash initially. Today credit has the highest prominence among loans that banks offer. There are credit cards for every purpose offering you all type of credit from short to long term, from high interest to lowest interest terms - all depending of course on your credit history. The credit cards play upon the convenience angle of a customer. When ready credit is available for taking, most likely the customer will reach out and take it. Based on this principle, banks offer credit - sometimes unlimited to its customers through credit cards. Though it is heady experience to have a high limit credit card, it is extremely dangerous to indulge in shopping with credit, without calculating credit repayment capacity. Because of this, many people fall into the credit trap and are unable to get rid of it later. Credit is good when you have an emergency and cash is not at hand. Credit is also good when once in a while you go on a binge for any reason. However, credit is totally fatal when it is availed for indiscriminate shopping, or used without foresight. Use credit wisely and cautiously. Why credit is such a bad idea to one who cannot afford it? Credit cards offer very high short term loans (the credit on a card should ideally be paid within 45 days) and then they will offer you the option to repay your credit long term with small monthly installments. You will readily agree as it would look as a convenient way to settle the credit. But, when you agree to repaying credit this way, you end up paying double in interest. Credit is also highly addictive. You start using a credit card and you will understand how addictive credit can be. Just as any other addiction credit too can totally destroy you if not handled properly. Credit is so diversified nowadays, that no matter what credit bracket you fall in, you can have a credit card. There are banks that specialize only in offering credit cards to bad credit persons only. Credit is big business, and credit is great fun - however in order not to get caught on the wrong side of credit, you should handle credit just as would handle dynamite. With extreme caution! About the Author: Michelle Herring is a loan and credit expert and a partner in the firm of http://www.expertloanandcredit.com Average Credit Score

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