If you thought that plastic money is extremely advantageous and has no cons, you are definitely in for surprise. With this article, explore the disadvantages of debit cards & credit cards.

Disadvantages Of Plastic Money

Plastic money has become the order of the day. Whether it's a high-end store, a restaurant, a café outlet or even a grocery shop, people just buy what they like (not just what they want), proudly taking out their cards and allowing the shopkeeper to swipe away a fortune of their hard-earned money. You might claim that with plastic money around, you do not need to carry your cash and there is no fear of being robbed as well. At the same time, it is easy to use. However, believe it or not, there are a large number of disadvantages associated with using plastic money. Still, if you use it wisely and maintain a balance between paper and plastic money, the results can be otherwise. In the following lines, we have listed the disadvantages of using plastic money.
Cons Of Debit Cards & Credit Cards
Underlying Evils
Though it may look all trendy and flashy to own plastic money (especially credit cards), you may be surprised to know, owning it is extremely harmful and risky as well. Credits cards cost much more than other forms of credit, such as a line of credit or a personal loan, in case you are unable to pay them on time. The transaction charges added to the amount is much more than you would have anticipated. Also, continuous late payments damage your credit rating. 
Too Much Of Credit
One of the most evident and apparent problems with plastic money, mainly credit cards, is that it gives you unwanted freedom. As a result, you go on a shopping rampage, without even once bothering about the consequences. Plastic money allows people to buildup more debts than what they can handle. While you may be in high spirits after the recent shopping expedition, be wary that cost may be too much to handle.
Terms & Conditions
Have you heard the phrase 'All that glistens is not gold'? Though debit/credit cards may have innumerous benefits, most of them usually come with complicated terms and conditions, which you might not understand or comprehend initially. However, with time, as you get to know the nuances of these 'dirty' terms and conditions, it might be too late. 
Risk Of Loss & Misuse
The danger of losing a debit/credit card is something, which most card owners' fear. Though you might start thinking of the world as a good place and people living in it as angels and seraphs, reality is not all that sweet, especially when you have lost or been robbed of plastic money. It is seen that hefty purchases are made under the name of the account holder after the card gets lost or stolen and you end up paying for things, which you have neither bought nor own.
Limited Options
With so many companies in the market, chances are that the stores that you step in does not accept card of the particular company you have. Result - you have to either pay a bulk of cash or just walk out of the shop with no shopping bags (as most of us do not care to carry cash, because we overtly rely on the credit card).
Less Global Availability
Debit/credit cards also limit global shopping. This is mainly because there are many companies that do not allow their cards to be used in areas with which they have a regional conflict. As a result, owning plastic money can be very cumbersome, not to forget the embarrassment of coming out empty handed, after spending so much of your time trying the gorgeous outfits.    
It's Plastic After All
In the present world, we have become plastic money fanatics. Most of you would agree that with debit/credit cards in wallets, we do not mind going out without even a single note in hand. However, remember its plastic after all and susceptible to damage.  Due to constant use, magnetic strips of the cards get worn out. As a result, the card might not get accepted. If during such times, plastic money is your only source of cash, you can be in a tricky situation.

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