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Thursday, August 5, 2010

Topic 1 : 6 - 14th August 2010

Question 1

Credit cards are easy to obtain nowadays.
Discuss the pros and cons of young adults having credit cards.

p/s: this topic applies to both bge 3002 and bge 3212 students.
state your name, matrix no. and major in your comment.

123 comments:

  1. MOHD UZAIMIR BIN ZAIDI
    10B02007
    2BMET

    Credit cards (debit cards) or I would like to say as “The Digital Money” indeed is very easy to obtain now days. It’s often being used by the adults who are with big or moderate salary. But now we can see that they are many young adults or teenagers using it. We may thinks that it is easy to use the credit cards but there the pros and cons of using it and would like to share my opinion about it especially on the context of young adults using the credit cards.
    The pros or advantages of using the credit cards are plenty, such as we don’t have to bring a lot of money to go shopping or going for dinner at an exclusive or fast food restaurants. Carrying less money means there is a little risk for you to lose money if you are unlucky enough to get mug at the streets. Also, if you are using the credits cards you won’t be bothered if you’re forgotten to take out your money from the ATMs because you already have a direct link to your money in bank with your credit cards. It is pretty handy for some people. There is one more advantage for using the credit cards, if you have a good credit history means that you paid off your monthly account balance, you might get a higher chance to get employed or rent a house because of your good credits history give an impressions that you are a good at handling money.
    For the cons or disadvantages of young adults having credit cards, I will say there is plenty to. For example, if the credit cards holder is a shopaholic with a little financial source they might be haunted by the mounting credit card bills. This can happen if the person is buying things that he/she is not capable to pay. And the outcome is the balance are carried forward until it is quite impossible for a young person with little financial to pay even in 10 years. But if the users are from a rich family the monthly bills might not be an issue, but it will make the habits of using money without control grow in them and eventually make them hard to control their expenditure thus make them very un-independence if they lose their money line from the family.
    For me I think it is good to have the credit cards despite the disadvantages of using it. We just need to learn how to wisely use it and not to be overwhelmed by the feeling that we have plenty of money in a card and just spend them wildly.

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  3. NUR HAZIRAHTUL QURSIAH BINTI SAIMI
    10B06001
    2BKPT

    Credit cards have certainly taken a big leap from just being a plastic card payment. Gone are days when these can only be used at diners or restaurants. Today, almost every other merchant and establishment accept credit card payments.
    As the years passed, the features and provisions of credit cards have greatly been enhanced to meet the demands of many cardholders. Indeed, when properly managed, owning a card can be beneficial.

    The Pros
    Build solid credit history. Using a credit card is an easy way to build good credit history. As you regularly use your card and pay your charges on time, you are also building up your credit rating. For students, a student credit card is a great choice since these cards do not require a security deposit as secured cards do.

    for convenience and safety, compared to bringing cash, it is safer to use a card since you can simply call up your bank and have your account locked in case of theft or loss. Handy during emergencies, credit cards can be a wonderful lifesaver in times when you need something in an emergency but you don't have the money at the moment. In this case, you can charge the purchase to your credit card and just pay by month's end.

    The Cons
    The risk of bad credit. Credit cards can help us build good credit history however there is always another side of the coin. Improper or excessive use of a credit card is one of the reasons why most of us accumulate debts and fall to the trap of bad credit. This is why all credit cardholders, especially students, are warned against choosing the wrong card, acquiring too many cards, maximizing their limit or missing their payment due dates. You could end up paying more. The cost is another risk factor connected with credit cards. Aside from the interest rate, there are finance charges that you need to watch out for. Late penalty, over-the-limit penalty, balance transfer fee, and other transaction fees can really add burden to a cardholders. The ability to control your spending is considered as one of the biggest challenges about having a card. Since you can always charge it to your credit and think about repayment later, many card owners are prone to splurges. It would really be risky to let teenagers shop with a card. "Don't Let Your Credit Card Control You". Clearly, the benefits as well as the risks greatly depend on how you manage them. You need to be the one in charge. You must never allow your card to take control of your life and sense of spending.

    For instance, just because something is on sale does not mean you should buy it and charge to your card. Carefully consider if it is something you really need, if it is something that will be useful for you, and if you will be able to back your credit card on time. If you have doubts, it is best to pass up the purchase until you have the cash to pay for it.

    Lastly, pros and cons associated with what they call "plastic money". Hopefully, this post can enlighten consumers, particularly young people who are thinking about getting their first credit- about the importance of responsibility and self-discipline in using credit cards.

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  5. NUR HIDAYAH BINTI MAT RAZALI
    10B06006
    2BKPT

    Today, the world is fast developing in line with technological sophistication and modernity of life now. One of the modern way of life is to use the credit card. If we see now, the old nor the young people using credit cards as one of their lifestyle to buy anything even the food.
    Young men and women of high school or college age find the idea of getting their first credit card alluring. They feel they are old enough to be responsible, and have every intention of using their credit wisely and paying the debt back quickly. Having a credit card at a young age has some advantages, such as getting credit started and having money for emergencies or necessities. However, the cons of having a credit card at a young age outweigh the pros.While young credit card holders might have every intention of repaying their debt, repayment of that debt often becomes difficult. First, high school and college students usually don't have stable employment. Even if they hold part-time jobs, these jobs often take the back seat to school work and class time. Even after they've graduated, young people are going through a transitional period which often includes unemployment or low income employment.

    Another con to credit cards for youth is that young people often have very little to no experience with financial obligations. More often than not, their parents, friends or other relatives have been able to help them pay for the things they want or need, such as tuition, food, new clothes or entertainment. This lack of experience also brings with it a lack of foresight and understanding of money. Although they can be extremely useful, they are dangerous in the wrong hands.Credit cards often come with hidden costs and charges such as finance charges, interest charges, late fees, over-limit fees or usage fees which young people are not aware of. This con is largely due to the lack of experience with financial obligations, but even more experienced consumers might see hidden costs as a con to holding credit cards. The fact is that young credit card holders typically view credit card purchases as same-as-cash purchases which they have to repay later, while ignoring many of the extra charges. According to the Columbia Missourian, it can take five years to pay off $1,000 of credit card debt, if you make the minimum payment

    So for the conclusion is having a credit card in a young age cause a pros and cons to the teenager. Every teenager must thinking carefully whether they should having the credit card or not. Every decision they make brought advantages or disadvantages to their lives.

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  6. Copy paste other people's essay will not be considered as YOUR OWN COMMENTS!

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  7. haha...i hopes that doesn't refers to me coz i use my own word on my comment...i just did some research on the credit cards thingy coz i don't know much about it.

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  9. pros such as credit card user can buy things without worry for unsufficient cash,credit card user doesn't need to withdraw cash every time they want to buy things,despite these advantages lie many weakness such as not every shop have credit card machine,and i dont think young adult should have credit card because they are inability to repay as some of them still studying,they commonly lack of financial knowledges and spending without worries of incoming debt...

    MOHD SUFFIAN HAFIZ BIN MOHD NOOR AZAM
    09BO2005
    2BMET

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  10. AIMAN...2BMET..09B02001


    Having a credit card at a young age has some advantages. However, it also has some disadvantage.

    With a card, there will be less need for carrying cash, and it will be easier to track where the money is going.Kids can use computers, often better than their parents, and with credit cards they can keep track of their money and maybe even teach some parents a few tricks.Credit cards are good for emergencies.

    It’s easy to lose control, overspend, and end up paying off a credit card for years after graduation.f you don’t stay up on your payments your credit score will be negatively affected.Spending too much on a credit card means they have more to pay back and less money to save for the future. Savings are also a very important lesson for college students to learn

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  12. AHMAD ASRAF BIN AB MANAF
    10B02028
    2BMET

    nowadays we always provoke with the disadvantages of using the credit card.based on comment from ABG PYAN,he said that young adult should not have credit card because they are inability to repay as some of them still studying,they commonly lack of financial knowledge and spending without worries of incoming debt...

    for me this statement is truly wrong! In modern life now,student as a future leader must know and using the modern technology.there are a lot of package of the credit card offered for student.by that this situation not only can give the easy situation for student but it is the best way to avoid from loose the money.

    below i give a few tips for the student to decide the right credit card...

    FIRST,When applying for a credit card it is important to evaluate the card offer details. It is a good idea to look for a card that has a low annual percentage rate and the interest introductory period

    SECOND, choose rewards work most to your advantage.for example If you don’t have a car and you don’t fly anywhere, then you can go with cold hard cash back. The amount of money you get back varies by card, but you usually can get between 1-5% cash back on purchases. The points you earn can then be spent at places you already spend money like Blockbuster, Pizza Hut, the Gap, Footlocker, and more.

    THIRD, choose Prepaid Card, Credit Card, or Debit Card.it is depending on your personal spending habits you may want a debit card or a prepaid card.

    for the contra for using the credit card,same as the comment from others, the credit card is has the risk of bad credit.next is it’s easy to lose control, overspend,end up paying off a credit card and many more.

    honestly i didnot want to explain more about the contras because i am very2 agree the student must have the credit card..

    by all the tips,pro and contra that i give,the young adult will understand what they need and we as the student will have the happy modern lifestyle..heheheheh



    thank you =)

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  14. MOHAMAD ANWAR BIN HUSSAIN (2 BMET) (10B02074)
    Credit cards now is the need for community now. Since late, credit card is becoming increasingly popular among Malaysians. Now there are more and more company issuing credit cards. In my opinion more disadvantages than
    One of the factors that encourage people to use credit cards is that they do not have to carry money while shopping. They are more comfortable using credit cards for more light and does not pose a problem to use when necessary.
    Safety factors may also affect society today than cash. This is because credit cards are not transferable as they like. Thus, the credit card owner does not have to worry if their credit card is lost or stolen people.
    Besides, most people do not have to change money when abroad. If we use cash, we need to change our currency to the currency of the country before we visit. This is not the credit card that will turn themselves when abroad.
    In addition to the advantages that can be enjoyed. Credit card holders often face problems. This is because not all shops and shopping centers can accept the use of credit cards. So the credit card holder can only use credit cards with limited.
    In addition, the credit card owner may spend an excessive because they were not aware of the amount used. They will be a lot of debt. This can be viewed by society today where many Malaysians have declared bankruptcy because of credit card use is too caught up shop regardless of the amount to be paid later.
    Therefore, I am a student and the people suggested that the credit card does not have many privileges. More disadvantages than advantages, although the use of credit cards more popular but the matter will not be able to replace the actual cash ..That my opinion...

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  15. WAN MOHD HAFIZ BIN WAN ABDUL RAHMAN
    10B02026
    2BMET

    According to statistics, in our country the credit card spending has increased so significantly. This can be considered one of the good news for our country but the good as well, there are many think that our economy is not advanced because of the use of credit cards.
    One of the pros that encourage people to use your credit card is the use of credit cards is more safe in the event of any theft or loss. Credit card holders need not worry their money is stolen or robbed while shopping and travel because if the credit card is lost or stolen, they can make a report and card holders will not bear any risk of lost cards.

    Secondly, Credit card is facilitating the use of credit cards everyday peoples. Credit card holders do not need to carry cash for more shopping at the market. Credit card owners only need to sign only at bill of goods purchased. Owners are required to pay credit card bills on the end of the month and even then may be in installments by the ability of the cardholder.

    Thirdly, Card holders are also offered various form of insurance coverage. Much of the credit card issuer provides insurance coverage of loss or damage within 30 days for the item purchased. During that period, compensation is given by the card issuer credit.

    In addition to the facilities can be enjoyed, credit card holders often face problems. The cons are the use of credit cards can create a culture expense of less healthy and not under control. Credit facilities to encourage users’ debt and spending more than income their wasteful behavior detrimental to the community. A credit card holder may be independent spend without limits for facilities producing cash at any times.

    Secondly, the use of credit cards may be negative impact on economy. Expenses will be uncontrolled result in demand exceeding supply. This will lead to the problem of inflation in our country. Finally, our country will face problems economic recession.

    Lastly, we can conclude that there are some pros and cons of using credit cards. However, if a credit card owners to use the facility wisely, they will benefit a lot. On the other hand, if the credit card is not used carefully, the owner will suffer from the burden of debt incurred until many years.

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  16. AHMAD FIRDDAUS BIN JAMALLUDIN
    10B02058
    2nd BMET

    Assalamualaikum...

    According the topic that published by Miss Sara,this is my opinion..

    In the days full of modernity, the credit card is one of the technologies created to simplify our life as a consumer. In the credit card system, there are pros and cons. Using credit cards for those who are working are not a burden. But for young adults, many things must be considered before using it, especially for who is still studying. This is because the using of credit cards have pros and cons.

    Firstly, the pros of credit cards facilitate the purchase of goods. This is because the credit card user doesn’t need to bring plenty of cash to buy something. Credit card users only need to sign the bill of goods purchased. But it cons, it will create a culture of overspending that is less healthy and not under control because users doesn’t see the amount of money their spent for purchasing. So it will encourage users in debt and spend more than the ability also the attitude of wasteful.

    Secondly, further pros of credit card users doesn’t need to fear their money is stolen or robbed when shopping. If the card is lost or stolen, users only need to make report. While the cons of its, whether a user is able to incur substantial debt due to excessive used. Furthermore, the high interest payment charged, especially for young adults who are still studying. In addition, credit card systems that available today are not allowed in Islam because its similar with Riba’s system. So,if you are Muslim, think it about it.

    So, in summary I believe by using credit card is not good for young adults, especially who are still studying.

    Thanks....have a nice day!!

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  17. MOHD ZAIRI BIN KAMARUDDIN
    10B02006
    BMET

    PEACE UPON YOU.... First of all, i wanna state that all kind of stuff created by human is base on to give a comfortable life for them self and others. Same to the invention of credit card in early 1946, by John Biggin. For the first time it is invented, the main purpose of it was to create customer loyalty and improved customer services. But recently, people focus more on their convenience. More specific is to buy with debt.

    So, the main problem here is not the credit card instead of the user it self. (",). Islam religion also not encourage muslim people to have a credit card as it will double up our desire and greed to have something we want without thinking our financial. Plus of the concept of debit (owe) use by the credit card, it seem not suitable for us to us it. For certain condition and situation, credit card can turn to be illicit to be used (if the company use concept of interest charges)

    Here i wanna list the disadvantages of using credit card. :

    i - Some student have been swindled by giving their credit card numbers to dishonest salespeople over the phone. And for those who like online shopping and use their credit card to paid it, beware of the cyber crime. Dimitry Ivanovich Golubov have once do this crime to collect billion of dollar. Who is this guy? Check at my blog at: http://rieyana86.blogspot.com/
    (dont forget to follow :P)

    ii - It becomes a loan when the credit becomes due and you do not pay for it.

    iii - Adding monthly interest charges means you pay more for the goods and services. This concept is not illicit in Islam. So, if you wanna use the credit card, make sure that the company follow the Islamic rule. (for information, visit : http://www.zaharuddin.net/content/view/258/95/)

    iv - For students, it will increase the drop out rate due of academic failure. This is due to spending more time for shopping and at the the limit of the credit card usage, the debt is to high to be paid back. Here, they cannot concentrate on their study.

    v - Base on the statistic done by Department of Insolvency Malaysia, the number of Malaysian Declaring Bankruptcy due to credit card debt is increases by year 2005 to 2008 and decrease at 2009. But the number of it is still high. ( For more information, visit : http://www.mmail.com.my/content/credit-card-debt-and-you-under30s-under-siege).... (mmmm... are you still wanna try use the credit card?)


    Hence, the credit card have more disadvantage rather than benefit for us.

    Thank you.
    Peace Upon You.

    P/s : If you not agree this, please give me your reason with true facts. Any reason without fact will satisfy as cheating.... (",).... (:...sorry if my english grammar is bad... ;)

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  18. AHMAD MUSTHAPHA BIN WAHIB
    10B02029
    BMET

    Credits card may be defined as a type of card is use as a substitute for cash or currently know as plastic money. Since recently, the use of credit cards available in the increasingly popular among our community, especially the young adult. Now more credit card issuing companies such as American Express, Visa and Master Card.
    Advantages of using credit card are more then disadvantage.
    There are a lot of benefit that we can get from using the credit card in our modern lifestyle now. First, we have not to carry money when we go to shopping, pays the bill and many more situation that we must using the money. Because of that we can avoid from be robed and can use certainly if have emergency case.
    Next, almost credit card company will provide warranty for a thing who damage or missing in 30 days. in that time warranty payment will be given by credit card company. Credit card user also can get special of from credit card company such as insurance, safety finance and many more.

    Disadvantages of credit card use can create a culture expense of less healthy and under control in teenagers. Next, Credit facilities to encourage users debt and spending more than income their wasteful behavior detrimental to the community.

    As a summary, concluded that there are some advantages and disadvantages of using credit cards. However, if a credit card owners to use the facility wisely, they will benefit a lot.

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  19. MOHD ZAIRI BIN KAMARUDDIN
    10B02006
    BMET

    Apology for all .... i miss type my word in my previous comment.....

    refer to :

    iii - Adding monthly interest charges means you pay more for the goods and services. "This concept is illicit in Islam". So, if you wanna use the credit card, make sure that the company follow the Islamic rule. (for information, visit : http://www.zaharuddin.net/content/view/258/95/)

    i really sorry for that inconvenient....

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  20. MUHAMMAD FADZLAN BIN RAMLI
    10B02011
    2BMET

    السلام عليكم ورحمةالله وبركات

    Wah first day in my life create blog and comment make me excited. Mis Sara give very good topic about card credit.


    Now days A credit card can be an asset to our lifestyle, but if not handled carefully it can become a liability, especially if you find it so convenient and easy to use that you lose control of your spending.

    Using credit card got pro and cons to young adults. I can said many disadvantage then advantage when this young adult using card credit.

    First young adults who still study cannot afford to pay every month to card credit company. As i know person who salary rm 1800 and above only can required card. Now many interesting item such as i phone, lektop, brand make up for girls and many more. Student sure want to follow new technology and fesyen. For student sure they want wear or using something branded. Using credit card to buy will incerase debt and this student will get problem to payed.

    Next, card credit company also give us insurance care if we using card credit. In my opinion our parents already sign up our name in insurance and why need to have 2 or many insurance? Feel wasted it is?.

    Second, the debt always increase in a year. I also do some research about credit card. People who got 2 or more credit card will easy bankrut if they didn't manage their spent. Spent here, there to buy unnecessary thing. Like old word " Biar papa asal bergaya" this word we canot use anymore because will harm yourself.

    We also need to be allert of signing up for credit cards. While, most are legal, some companies are really towing the line between legal and not legal.Watch out for companies who charge a membership fee or have a substantial charge for late fees.

    Not all credit card got disadvantasge. Credit card also make we easy to buy anything in case we in emergency.

    Credit card also advoid us to be robed because bring such a big cash will easily be targeted by thief. No need to worry about thief or others thing.

    More banks are offering reward programs tied to their debit cards than ever in an effort to gain new customers and increase card use. Some bank give car as a reward or holiday vacation to the lucky credit card holder.

    Last word , credit card bring more disadvantage from advantage. many reason why this happen and a few reason i parse.

    Than you very much and happy fasting. ♥♥♥

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  21. MOHD FAHMI BIN JOHARI
    10B02067
    2BMET

    Money has always been an issue of extreme importance to everyone and especially to business minded people who strive on having more and more of it in everyway possible.In the late 1960's, bank started introducing credit cards and this started a "credit card boom" that continuing until now.There are so many types of credit cards that one does not know which ones to choose anymore.In example, there are the prepaid ones business ones as well as the golden ones.The worst kind though is the ones that do not require having a bank account and which are being given to anyone these days,regardless of whether he/she is qualified to hold it, like young adult or teenager having spending and shopping addiction,for example.In the before mentioned cases,the advantages of giving out a credit card to these persons are much fewer then the disadventage of doing so.

    The advantages of owning a credit card is to enable them to purchase item that could not normally buy.Things that have been reduced which will save money.This does not mean that them can go and spend thousands of dollars that they have no hope of paying back within in the limit with no extra charges.That will happen and they will never be debt free.
    Furthermore, it is a lot safer to carry a plastic credit card than to have a wallet full of cash.Especially if someone happens to see when open the wallet and gets ideas of them to being a soft target for a mugging.At least if the person are use the card,they cannot get anything but make sure never write pin number down and keep it with the card as without pin number in the case of stolen wallet they cannot access the account.This is also a good way of keeping up to date with spending habits.There will be a record of everything they have bought.

    Card credit have disadvantage because the concept of self restraint is not successfully mastered by everybody,not everybody is qualified to receive a credit card.A person getting a credit card for the first time might feel that there are no limit to what it can buy for them and will start using a lot more then he should.They may not control the amount them spent.This happens because them may see something really cheap and because them have the card with them and it is simple.Thus resulting in overspent money and even bankruptcy in some cases.If a person has a smoking addiction problem,it is considered foolish to place them in a room full of smoker because that would make quitting much harder because of a bigger temptation.The same goes for a person having a spending addiction and giving them a credit card would result in them giving in to the urge to spent more then they can afford.

    As a conclusion,credit card can be terrific if managed with care and in the correct way.If they are one of those people that cannot manage their finances then definitely do not have one.
    Credit card advantages and disadvantages need to be considered carefully.Be sensible weigh up the pros and cons and decide whether it is necessary for them to take the risk of having one.Instead of having a credit card,save everything as can and put the money into a saving account and buy the thing want with cash,then you will be debt free.

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  22. Muhamad Bin Salleh
    10B06005
    2BPET

    Credits card are replace the money. The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.Today, almost every other merchant and establishment accept credit card payments.

    But now, the credit card using us some people example students, young men, young women, and teenager.

    For the young adult, the pros or advantages of using the credit cards are plenty, such as we don’t have to bring a lot of money to go shopping eat some place at an exclusive or fast food restaurants. Other one, using the credit cards a save because needed a signature or pin numbers. Handy during emergencies, credit cards can be a wonderful lifesaver in times when you need something in an emergency but you don't have the money at the moment.

    Credit card is very risk because, have limited using. Other one, young adult like be wasteful or enjoy using the credit card.Although they can be extremely useful, they are dangerous in the wrong hands.Credit cards often come with hidden costs and charges such as finance charges, interest charges, late fees, over-limit fees or usage fees which young people are not aware of.

    That all my comment about the credit card.

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  23. MUHAMMAD FADZLAN BIN RAMLI
    10B02011
    2BMET

    A few tips may be help a new credit card holder to manage their money.

    1 Make a budget
    2 Track your spending
    3 Understand interest and late fees
    4 Read your statement
    5 Pay on time.
    6 Pay more than the minimum.
    7 Reduce your number of creditors
    8 Pay the most expensive debts first
    9 Use online banking
    10 Get help early

    ^_^

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  25. Mohd Faris Shafiq Bin Mohamed
    10B02018
    2BMET

    Assalamualaikum...

    According to the topic given by Ms Sara, this is my opinion.

    Nowadays credit card is famous that used by anyone in this world like staff, workers, and student also used credit card. I also used credit card(debit card) because for me credit card is easy than bring cash money in pocket. I think credit card is more advantages than disadvantages.

    Firstly, the advantages using credit card is that person not has to bring cash money in his/her pocket. This is more safety because now thief accident lots happen in our life. They feel safety during they make their work.

    Secondly, the advantages using credit card is we can shopping and eat in the exclusive place or fast food because credit card is accept in all shopping complex, exclusive restaurants and fast food.

    Next, the advantages by using credit card is we can travel all the world easily because now credit card is accept in all country. With credit card we can shopping and eating at overseas. so that we not has do to make money changing.

    The disadvantages by using credit card is, first some people used the credit card wrongly because they used credit card to buy anything they want it. They cannot thinking some thing is expensive but they want to buy it.

    As the conclusion, credit card is good for people nowadays in their life....

    Thanks you...that all from me....

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  26. I think miss Sara post is interesting for me...
    but my opinion is credit card is very useful nowadays....

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  28. Mohd Adhwa Hazran bin Adzlan
    09b02006
    2BMET

    Credits card is a very small thing just like a toy but it have a money inside that we can go shopping anywhere around a world. Even toy also have credits card for instant monopoly and even marriage also use credit card to pay the dowry.
    If this kind of toy is use by young adult what will happen? Lets we see what is the advantages and disadvantages if young adult use it.

    For the advantages, firstly if this toy or other name is credit card is use maybe it will make people more easily to purchase anything without carrying lage amount of money. Secondly this toy allow us to use the money first before paying. Lastly credit card are the cheapers for short term borowing. Interest only paid in the remaining debt. if every young adult play this toy every young people will live happy ever after like cinderella. What a good of toy...

    Every advantages has their disadvantages. this is the creepy and scariest chapter for everyone in the world. People are more scary to this toy than to see a ghost.Disadvantages of credit card!!!! for young adult. Firstly this toy could make us a young adult to became impulsive buyer and tend to overspend because of easier to use. Secondly this toy will make us more easier to have a a lot of debt because of high interest and other costs rates this meant more spend more debt,ahhaha deserve u rite!! , and the last one is if we lost our card.. jenjen!!! unwanted expense could be in our account this meant the people who found the card has use the the for their expense and we have to pay the debt. What a dangerous toy we have, so is not wrong to use credit for young adult, but we have to be careful of our expense and safe of the card before we been declared bankrupt. That all my comment see u later next time in other time.... :-)

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  29. SITI NOORAZUANI BINTI ABD LAHLI
    10B05007
    2BCET
    Assalamualaikum..miss Sara,
    my opinion about ur topic is...
    One of the factors that encourage people to use credit cards is that they do not have to carry that much cash for shopping. For some people, bring plenty of cash when shopping was a burden. Credit card users will also feel more secure using a credit card compared with the use of cash. This is because all the credit card used is not transferable. Most of the people prefer to use credit cards because they do not need to change your currency when abroad. If we travel abroad, we may need to change our national currency to the currency of the country that we visit. Besides that, there are also disadvantages of using credit cards while shopping at the regular stores, not all dealers want to receive a purchase on credit. Therefore, local accommodation or shopping center can be visited by credit card holders are limited. In addition, cardholders may shop excessive because they are not aware, or concerned with the money spent. So we should be careful before infection.

    ReplyDelete
  30. SITI HAFIZAH SELIAMAN
    2BCET
    (10B05006)

    Peace Upon to you all...

    Here i want give my opinion about Ms Sara post “The pros and cons of young adults were having credit cards". From my research the credit cards came into existence in 1950 and now billions of people worldwide are using credit cards as part of their lives. Getting the best credit cards would not be complicated task when armed with the correct information.

    What’s mean by young adults and what’s related between young adults and credit cards? Young adults actually the person was going their age is 20 until 40 years old. Today what I can see the relation between young adults and credit cards such as the Malay proverb says is "like a nail fill”. For me many pros and contras when we are use credit cards as middle point to pay or solve some of our problems about the financing mainly students. As a student, I also know how other students on managing their finances when shopping, especially to those with credit cards. For this comment I just give simple opinions about the pros and cons of young adults were having credit cards.

    Now I will tell about my opinions the pros or benefits when using credit cards for young adults. From my research through reading or serve the Internet, I found that the main pros or benefits when young adults use credit cards to spend regardless of the time. This is because the main purpose of credit cards is to facilitate credit card use even at the time the credit cards user does not have the money cash to spend especially young adults now who like to shopping. With their credit cards they can have fun regardless of the time. Apart from that, the advantages of credit cards are credit card users do not need to bring plenty of cash when out shopping. With this automatically to reduce cases of robberies and cash dropout problem can be avoided.

    On the cons or negative side through, the use of credit cards will make young adults be a waste of time shopping for a credit card a person will spend without limit. For example, young adults at this time prefer to spend money on clothes and make-up stuff that brand without thinking longer term. This is because of their credit card could incur these expenses. But they really do not think in the future. When using a credit card debt will be difficult because the interest charged on each transaction is different.

    I believe that if adults have a credit card but do not use effectively to the detriment of their own lives.I also suggest the use of credit cards especially in the higher education institution is reduced because if used for bad purposes but will inconvenience them in the end.

    * Here I apologize if my grammar is not satisfactory to use the visit this blog and read this comment .... Thanks to all.

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  31. NURUL AFIDA BINTI MOHAMAD
    10B05008
    BCET

    ASSALAMUALAIKUM…Miss Sara, that is an interesting topic …..so, that is my opinion about this topic….

    Everyone knows that credit card is like a hard paper that has a valuable value likes money. This card is usually use by rich people. But today, young adults have the interesting to get their own credit cards.

    Having a credit card at the young age has the own advantages and disadvantages. Why the young adult attracted to use the credit card? Firstly, they are attracted to the application of the credit card. They can go everywhere without carrying a lot of money in their pocket just like ‘touch n go’. As the young adults, they don’t like something can burden them in anything they do. Secondly, they supposed that having a credit card is a trend. At the young age they don’t want to look dwarf and out of date. They also want to be the first and follow the trend. Thirdly, they want use the credit card as their convenience especially in shopping. They can buy anything they want without using cash but only use card. That is the easier for them to pay the things they buy without put out their money from purse or wallet. That is easier, safe and practical ways.

    Besides the advantages, it also has the disadvantages too. The disadvantages are if the young adults having credit cards it will make them to get the potential in debts. That is because all credit cards have their own interest and they need to pay off the balance every month with the interest. If they are late doing the payment, the rate of the interest also increase. The other disadvantage is the young adults will negligent with their happiness by using credit cards. They will buy anything without thinking the limit of the card. That is because the never know the cash they use until the saw the loss of money with their own eyes.

    I can conclude that, having a credit card nowadays is good for the people whether for young adults and others. It has the own advantages and disadvantages needed to care. We can make it as a guide to use it. The young adults can use the credit cards whilst they know the limit and afford to use it. They need to be discipline in manage their financial if they want to have credit cards. So, they have a change to choose a better choice for themselves. The person is not same to the others as long we know what the right is for ourselves.

    Thank you,see u all leter……….
    p/s: sorry …..my English is not good…(^_^)>>>>>>>>>

    ReplyDelete
  32. AINUL AYUNIE BINTI ROSLAN
    09B02002
    2BMET

    Why do we use a credit card? What a credit card? A credit card usually is a plastic that ensure a seller that the person using it has a satisfactory credit rating and a credit card is a type of card which had used to replace cash. A credit card is more than a simple piece of plastic, it is flexible payment tool accepted at many locations worldwide. So, nowadays a credits card is easy to obtain, and the total of people use it are increase, especially among young adults. However before you decide to use your credit card, carefully consider all of the pros and cons.
    There are several advantages to use credit cards, one of the factors that encourage young people to use credit cards is that they do not have to bring a lot of cash for shopping. For me, bring plenty of cash when shopping was a burden and unsafe, so better I bring a credit card. Today, mostly consumers shopping at supermarkets, hypermarkets, are using a credit card. In my opinion, consumers will feel more comfortable using credit cards instead of using cash.
    Secondly, the credit card can eliminate the risks of having cash stolen. Even though a credit card may be lost or stolen, they cannot access your account compared with the use of cash. At least if you use the card, they cannot get anything because all the credit card used is not transferable. In this case I think the most factors encourage consumers to use credit cards users will also feel more secure.
    Then, when used a credit cards it is allow consumers to purchase expensive items without worry about the money. The purchase can be charged and paid off over time, no need to use cash. Besides that, uses credits card among young adults needs, because sometime it can help in an emergency situation. For example, when to pay in cash but too expensive, so they can used credit cards. This situation is suitable for adults because they just started a new career and entered the working world. So they do not have much savings to be used. Their income is not too much so sometimes they need to use a credit card in this situation.
    On other hand, most adults prefer to use credit card if travel to other countries or further their study. They do not need to change currency when abroad because if we abroad, we may need to change a national currency to the currency of the country they visit. This is not so for the credit card for foreign currency exchange will be done automatically every time a credit card is used.
    In addition, the disadvantages for use a credit card is many cases of bankrupt were occur. This happened because in part due to use of a credit card with no limit, so it produces the outstanding debt. When the amount of debt to much, they can’t paid in the time which had given.
    As we all know, business credit card is high interest rates on unpaid balances. The consumer needs to pay for all purchases at the end of the period. Other, credit card are carried out with use of computer system, so sometimes there is the likelihood of fraud in the transaction. This situation has high risks, if someone aggression an account.

    As a summary, concluded that there are some pros and cons of using credit cards. It depends on how someone used it. Credit cards advantages and disadvantages need to be considered carefully, especially young adults. In my opinion, although the use of credit cards be more popular from year to year, carefully decide how to use the credit card.

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  33. MOHD RAHIMIN BIN ABD. RASHID
    10B02057
    2BMET

    According to the topics discussed,people who having a credit cards have its own pros and cons.

    The pros
    First are the pros of credit cards is it can allow people especially for students like us to buy whatever we need such as books or personnel needs such as branded shoes, branded hand phone without feeling worry though there is not enough money in our pocket . Having a credit card also keep us out from being victims to criminal cases like snatch thieves because credit cards allows us to carrying a small amount of money when going shopping.

    The cons
    the bad side of having a credit card is, it will encourage us to spending our money more than we should because we only need to the sign to obtain a product without thinking about debt that need us to pay back . Due of excessive spending, we have successfully raised total debt and the responsibility to pay back. Next is a credit card can also cause us to become victims of criminals who commit credit card fraud activities. Every time we make a purchase with a credit card, we also put ourselves at danger situation because if the information in the credit cards falls into the hands of irresponsible people, so it can be used to make purchases without permission from us. As a result, we were forced to pay the debt that we did not do the purchase.

    As a conclusion from me, there are some advantages and disadvantages of using credit cards. if we use this facility wisely, we will have many benefits. On the other hand, if the credit card is not used carefully, we will suffer from the burden of debt incurred.

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  34. MOHD FARID BIN MUHAMAD SUHAIMIN
    10B02021
    2BMET

    Assalamualaikum.....

    According the topic has given by madam sara,this is my opinion.

    As we all knows credit cards can be a benefit as well as blight to everyday consumers. Among the pros for owning a credit card is that we always have a way of paying for something in an emergency. we can make hotel, airline and car rental conservation. we can make online purchases and can build good credit rating and history by using our cars responsibly,which will aid greatly when it comes time to ask for a big loan such as a car loan.
    Another pro of credit card is we can purchase good or service then dispute the charge if a problem arise from a purchased god or service. Furthermore most credit cards offer holders privileges and perks for the loyalty in the form of cash back,air miles,discount on hotels,and car rentals.
    The cons of using credit cards is such as they give consumers a false sense of their purchasing power,they charge horrendous interest on balances that are not paid off and full and they can wreck havoc with our credit history if they are not use correctly. also credit cards can trap people in terrible cycle of constantly playing catch up with their money.
    Many people who overspent on their credit cards spend years trying to pay off the balances and end up paying double on sometimes triple the original cost of their purchases in interest. In the end,the cons have much heavier and far reaching consequences in the long run.

    That all from me......
    Thank you

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  35. Mohd Armia Bin Zakaria
    10B06003
    2BPET

    Technology has change world into digital world where everything is in our hand. Food, study, social activities all of it now can be purchase or done it by use technology. The same situations happen in finance activities where now day people were introduce to credit card. Today people use money as method to buy things but now parallel to evolve of technology they use a credit card to replace money and it known as digital money. It give many an advantages to who are involve with financing jobs or same field as that because they don’t have to bring a lot of money to make their business.

    Do the credit card give a bad influence to young adults who having it? Let’s take a look what the advantages and disadvantages if they did.

    As we know, most of young adult in the world are student so they are learning mode. In order to replace credit card as money, by give them to use credit card in their finance activates during their learning proses so they have a good guide line how to use credit card properly. At the same time, it builds a responsibility to each of young adult to use a credit card in positively because they have been given freedom to take care of their finance by them self.

    According to young adult activities now day, the main categories they spent money on like fashion, food, telecommunication, transpiration and study things. This all such things they have to spent follow their own necessary. Here came the cons where young adult have lack discipline in spending their money on it and also to who lack information about the credit card just use it as they want without knowing the term and condition.

    For the conclusion, the use credit card give a lot of advantages to young adult who can manage it well and despite they will suffer later on to whom wrongly using it.

    ReplyDelete
  36. salmah binti ishak
    10B05020
    2BCET

    Nowadays, credit cards are easy to obtain for young adults. My opinion, young adults should not use credit card because mostly young adults still in study and they did not have income every month. Although, credit card is easier to carry than cash and also provide easier payment method for purchases made on the internet and over the telephone. Then, it gives incentives such as reward points that can redeem. Next, it is also help to establish a good credit history and offer free use of funds, provided if always pay balance in full on time. But, the credit card should handle carefully if not it can be a liability, and it easy to use that may cause lose control of spending and budgeting. Young adults will be addicted spending money using credit card and become shopaholic that cause a lot of debts. It is become a huge financial burden and the credit card also charge for amount of interest if not pay off the balance at the end of each month.

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  37. ZURAINI BINTI MUHAMMAD
    10B02049
    BMET

    Credit cards become common nowadays. We can see the credit card tools everywhere. People can get credit card everywhere. We can apply it at bank, agents and others. With the way that easy to get the credit card, no wonder nowadays many people use the credit card. People can use credit card commonly people that their life already stable and have a good job. For a young people, it is depending on their parents either to give their children to use a credit card or not. But for the young adults that already work, they can make their decisions to use credit card or not. It true that credit card has many benefits but it is also has many negative consequences. Easily we called it as pros and cons. The pros of using credit card for a young people is they not need to bring cash money, can avoid them to buy nonsense thing and many more

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  38. ahmad asraf bin ab manaf
    10b02028
    2bmet

    salam..

    sory i just want 2 ask something to the person WHO did not agree that the student or young people should have a credit card.

    why you do not want to change your conservative mindset??

    you have to know we are in 2010 now..all the people now move on to a modern lifestyle.i think the tips from MOHD FADZLAN RAMLI is very2 good for those who have the credit card.so you have to think positive about this matter..once again, I stress that students should have a credit card..

    sorry if anyone would angry with me....

    SMILEEEEEEEEEE =)

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  39. MUHAMMAD FADZLAN BIN RAMLI
    10B02011
    2BMET

    Ahmad asraf bin ab manaf

    Let me tell you why i didn't agry with you.

    You said we must conservative mindset. I agry with that but some young adult cant hold their spent went go shoping or something else.Now young adult like to enjoy and always follow new trends brand. if they buy using their pocket money, i think need to wait long time to buy it.

    Simple solution for this problem is using credit card. Received bill from bank and brainstorm how to pay back hahahahaha...

    But i trust Ahmad asraf bin ab manaf can manage his credit card. Hehehe ^_^ don angry with me ya asyraf..

    Smileee ^_^

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  40. SYED MUHAMMAD HAFIZ B. SYED MASOHOR
    10B05012
    2BCET

    Assalamualaikum..

    First of all, i assume that everyone here should at least know what is a credit card. So, let me just spare all of you the details on what is a credit card. Moving on to the topic, discussing the pros and cons of young adults having credit cards.

    The pros:-

    1)No need to carry around a lot of money to go shopping(especially making large purchases)
    2)Can be use during emergency times(paying medical bills,etc)
    3)Keep record of all the purchases transactions
    4)More secure than having to carry a large amount of money
    5)Some credit cards offers certain benefits(cash back on purchases, rebates on products)
    6)Online shopping

    The cons:-

    1)Credit limit
    2)Offer high rate of interests
    3)Not all outlet offers credit card service
    4)Uncontrollable purchasing items(buying things excessively)
    5)Other people can use the credit card besides the owner(stolen credit card)
    6)Any failure of paying the credit card bills often led to the owner being black-listed by the bank

    Conclusion:-

    In my opinion, the pros and cons of having credit cards actually depends on the person who holds it. In this case, the young adults. Majority of young adults nowadays tend to buy things excessively without thinking too much about the consequences which can led to having a high amount of debt and other negatives effects if they chose to own a credit card. Even without having to own a credit card they actually still struggle to manage their expenditure. Despite all of these however, it can also be an advantage to young adults if they can control their spend money. So, it really depends on how well the individual is using it. For me, there are no clear answer to your question miss. As i have stated before, it just depends on the individual holding the card.

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  41. MOHD ZAIRI BIN KAMARUDDIN
    10B02006
    BMET
    sorry for interrupt you all for this time.... actually i not satisfy with comment from

    ahmad asraf bin ab manaf
    10b02028
    2bmet

    DO you REALLY know about credit card according to ISLAMIC perspective....do you ever try to do some research about it?... actually.... im not the wiser in Islamic knowledge....but know some some...

    all thing that have relation with interest charges is illicit in islam.

    nowadays, many of Islam people trap in the strategy of Islam enemy, by try to manipulate us using their great strategy. So, we need to alert about this. Although they invent something good for human life, but they also invent some idea to conquer world by their hidden strategy. So here, don't lost in this world guys.

    2nd... i have do a research among my friends on how they spend their MARA loan and the result is , major of them spend it not for their studies ... but for their convenience (buy hand phone, motorcycle, clubbing,and others). That is in the situation of MARA loan...

    lets we create an equation that link MARA LOAN and credit card....

    Loan = X
    Credit card = Y

    by the point that i had give b4,
    " ii - It becomes a loan when the credit becomes due and you do not pay for it", here, put a symbol of ">" as to symbolize the need of Credit card.

    we get X < Y,

    from the comment above, we get ratio of 1:10 person who agree that credit card give more advantages.

    so, 40X < (1/10)(Y)
    so, 40X < Y

    so we get that credit card is bigger than MARA LOAN by 40 time!.... how large of number of that!...

    lets we take a number of loan for TDD student,
    X = RM 43,878
    so, Y > RM 1,755,120!!!!


    THIS IS JUST A PLAY OF MATHS TO SHOW HOW RISK OF USING CREDIT CARD.....

    P/S : That value is the estimated value of money that student will use if the have credit card. Seem like impossible, right?... But that is the fact of Mathematics....

    The solution for this is the government should increase the islamic credit card and standardize the credit card formula of business according to sharia.

    sorry for my bad grammar.... huhuhu...

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  42. MUHAMMAD IZZUDDIN BIN MOKTAR
    10B02014
    BMET

    Assalamualaikum..

    I agree with his opinion (MOHD ZAIRI BIN KAMARUDDIN, 10B02006, BMET) of credit card and loan that he associate with education (MARA) ..

    In Malaysia, the history of credit cards began around the 1980s and has become a priority for the public in dealing with the purchase of essential commodities of life.

    Credit card from a general perspective provides benefits to consumers and producers, but from the perspective of Islam it is forbidden when the service charge imposed on users is too high. But the law is to be as low service charge at the rate of processing services are made only.

    "Law of the use of credit cards is "illegal" according to the resolution of the World Islamic Fiqh scholars Union Organization of the Islamic Conference (OIC) on 12th September 2000, but in a state of emergency"

    Have 2 type of credit card:-

    1) Conventional credit card-service charges are too high (Illegal)
    2) Islamic credit card with a low-charge process service rates (MUST)

    Most people do not know the type of credit card authorized by the legislation of the Islamic Credit Card (example:- Islamic Bank Card)

    * If there are errors on my opinion about credit card, please correct and inform to me.. (sorry for my grammar language, is bad..huhu)

    ReplyDelete
  43. Muhammad Hafiz Ikhwan b Zahanapi
    09B02004
    BMET

    Credit cards mean lots to nowadays life and it also had influenced the people lifestyle. In facts credit cards also have its pros and cons as we know and the question is why the people don't take it seriously????

    Advantages….

    Using the credit cards allow us to make large purchases such as cars, furniture, dress and many more. It also can help us during the emergencies when paying the medical expenses or any expenses when we do not have enough cashes. Majority young adults are collegians or still in IPT. They can use the cards to buy their expensive semester textbooks or any that related to their studies. Besides that, they also can use it as the temporary source of finance while waiting the loan to check in. Most of the uses of the credit cards are almost everything. That’s why the people use it because it is easy and promises instant money.


    Disadvantages…


    Credit cards are a great concept but they end up bringing financial ruin to many people because they do not use them properly. The major problem that might happen with credit cards is that people simply get too many of them. The real problem with credit cards is that the owed amounts must be paid back, this way the higher costs accumulated since the initial purchase could be avoided as well as the high interest rates of credit cards. That’s why the people cannot pay back because of the high interest.

    This problem happen when the people over use it. It is already known that the young adults love to make big spend in any condition. They like to purchase something that they want and not what they need.

    Furthermore, these problems occur when the users do not take seriously about the usage of credit cards. They should know that never uses credit cards as extra money and they also need to read the find print. In this manner they can overcome the over uses of the credit cards and reduce their debts.

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  44. Ahmad Muizzuddin Bin Kamaruddin
    2 BMET
    09B02007

    Nowadays, credit card is one of the important thing should have by all the worker whether he is young or old worker. Credit card is the card that you can buy anythings with that card without using to money to pay it. After we buy something, we need to pay back using our bank account. If we see with one eyes, we can say it is nothing, but for someone who think the future, they will said using credit card has more disadvantages compare to its advantages.

    Like most things, there has advantages and disadvantages. First, for its advantages, with credit card, we can make easy to buy things. We don't need to bring a lot of money to buy something expensive.

    Besides, it also can protect of our purchases. As example, credit card may also offer us an additional protection of something that we buy using credit card is lost, broken or has been stolen. With credit card, it has the statement, so we can make claimed or maybe some company offer insurance on large purchases.

    Besides that, in case of an emergency. As example, when we are in flood or fire, we have some saving with credit card in the account, so we don't need to worry about the money. We just a piece of car. In addition, some credit cards also offer discount for who are having a credit card or who was buying into the limits of the offer.

    In other hand, there are some disadvantages of having credit cards. We may blowing our budget. Nowadays, many people spend their money that they don't have it. As example,they spend about RM1000, but they don't have that amount of money to pay it back. They just think about what they want to do now, not in the future.

    After that, credit card also has high interest rates and increase their debts. Some credit card companies, charge us an enormous amount of interest on each balance that we don't pay off at the end of the month or year.

    Furthermore, like cash, credit cards can be stolen. Maybe it happened when we lost our wallet, or maybe someone steal our credit card number, using internet or something else. Nowadays, with technology, everyone can make everything new that maybe not in our mind.

    According to this topic, as as conclusion, credit cards can make life easier, but if we aren't use ti wisely, we can involve in a big problem or huge financial problem.

    SELAMAT MENYAMBUT RAMADHAN AL-MUBARAK

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  45. This comment has been removed by the author.

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  46. MUHAMMAD FADZLAN BIN RAMLI
    10B02011
    2BMET


    Wah so hot this forum now. Now many evidence show credit card is more cons. I really agree with MOHD ZAIRI BIN KAMARUDDIN.

    Credit cards are the major pillar of consumerism. They are the prime example of something which encourages you to spend even if you don't have the money. In a nutshell, credit cards are good for the banks and bad for you. They also involve Riba.

    Did u know riba is worse than committing Zina? If u don believe me u can search at www.soundvison.com. THis statement show us our Prophet strictly prohibits about riba.

    Credit debt is like slavery.Why i tell that ?
    this is a reason, we can never free ourself since the interest just keeps growing as time passes. It's sad but true. Whether you are a student who has taken out loans to further your education or a businessman,that loan which you may fully attempt to repay in the future may never be completely cleared because the longer you wait the higher the interest.

    We really need a credit card?. My research in internet show 90% of all american adult didn't have credit card. Muhd Asraf said we need move to modern life style but modern country also didn't using credit card.They look credit card bring more difficult then easy.

    If we really are serious, and pray to Allah to help us avoid the Riba trap for His sake, He will open a way out for us. Don't forget where there is a will, Allah can create a way.

    smileeeee ^_^

    ReplyDelete
  47. salam ramadhan...

    MUHAMMAD QAMARUL ARIFFIN BIN MOHD NORDIN
    2BMET
    10B02047

    The usage of credit cards has become increasingly popular in this period. This is because many users using it correctly or incorrectly. Have advantage and disadvantages to using the card credits.

    First of all I will give their views on the advantages of using credit cards. Availability of credit cards is an advantage to users because no need to carry cash is too much where they go. It is also easier to make a payment of cash. Consumers often use credit cards to purchase large and expensive. In addition, credit cards can help in an emergency such as medical bills caused by accidents. Credit cards can also facilitate payment for purchases made on the Internet and by telephone.

    Finally the disadvantages of using credit cards. If credit card payment accepted to extend, it makes you liable to a fine and then be sued by the bank.

    In conclusion, the credit cards are more advantage from disadvantage because its use depends on the individual. if the individual is wise to use credit cards there is no harm occurred.

    ReplyDelete
  48. MOHD HAFIDZ TAQUIDDIN BIN HITAM
    10B02060
    2BMET


    Based on the title given, I have a few opinions about the advantages and disadvantages of using credit cards by young adult. I agree with some opinions that say credit cards are good but I'm not opposed to some people who said credit cards also have disadvantages.

    There are several advantages of using credit cards as easy to use when they are outside the country. Besides, the credit card is easy to carry when we are out to buy the requirements of life. It is also can ensure the safety of a person from any such threatened and robbed comes true. Credit card can be very important when we are in emergency time. Sometimes, we are in the dilemma to give the special gift to our lovely person when we are visit other country because our money is not enough or other reasons but by using the credit card we can buy many special gifts to them.

    Already read my comments at above about the benefits of credit cards, and now I want to talk about the disadvantages of the use of credit cards.
    All things have their advantages and disadvantages, it same with credit cards, while we enjoy buying and spending we are always forget about the risks of credit card. Contract and agreement to have a credit card is a source of problems and it will load the person without they are realizing it. Besides that, credit cards can cause a person to spend beyond the limit requirement and it is no longer a requirement but the desire of the credit card’s user. The bank also has the rights to take any action if the people failed to pay installments. For example, if we fail to pay the monthly insurance, the item purchased must be withdrawn.

    Conclusion, if you try to have a credit card, reflect-think about what I listed at above. The advantages and disadvantages that I listed will provide a guide to you either you want to have a credit card or otherwise. In my opinion, every person has the right to have their credit card but must be prudent in spending and consider the benefits and potential consequences. That is all my opinions about the advantages and disadvantages of credit cards.

    ReplyDelete
  49. ZAWANI BINTI ABD RAUB
    09B02021
    2BMET

    Credit cards may be defined as a type of card is used as a substitute for cash or currently known as plastic money. Recently, the use of credit cards increasingly popular among our community, especially business members. Now, there are many credit card companies such as American Express, Visa and Maser Card. According to the Minister of Finance, the use of credit cards is catalyst for a significant inflation problem. In addition, he also predicted that the number of credit card users will increase year to year. Credit cards have pros and cons.

    People do not have to carry much cash for shopping if they have credit cards. For some people, bring plenty of cash when shopping was a burden and worrying. Today there are nearly 50 percent of consumers shopping at supermarkets, hypermarkets, using a credit card instead of using cash as the credit card is lighter and does not pose a problem to be used anytime.

    Next, most people prefer to use credit cards because they do not need to change their currency when abroad. If we travel abroad, we may need to change our national currency to the currency of the country we visit. This is not so for the credit card for foreign currency exchange will be done automatically every time a credit card is used. According to the tourists, they prefer using a credit card because they are given special treatment when doing business especially in leading and world-class hotels.

    In addition to the facilities can be enjoyed, credit card holders often face problems. This is because not all dealers provide card credit service especially ordinary shops or small shops. Therefore, local hotels or shopping centers that can be visited by the credit card holder is limited. Therefore, the credit card may be a problem if the shopping center or store rejects the use of credit cards.

    In addition, cardholders may shop excessive because they are not aware or concerned with the money spent. Therefore, we often hear complaints from owners of credit card big debt problems. Once satisfied to spend, they may be suffering having to think how to pay back the amount of money they spend.

    As we all know, business credit card is carried out with the use of computers. Therefore, there is likelihood of fraud in the transaction. Although this rarely happens, most traders are not confident with customers who use credit cards, especially credit cards that not popular. The dealers are not willing to bear high risks by accepting credit cards. Police Commercial Crime Division often reminds traders to always be vigilant when dealing with consumers who use credit cards.

    In conclusion, there are some advantages and disadvantages of using credit cards. However, if a credit card owners use the facility wisely, they will get benefit a lot. On the other hand, if the credit card is not used carefully, the owner will suffer from the burden of debt incurred several years.

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  50. ZAWANI BINTI ABD RAUB
    09B02021
    2BMET

    Credit cards may be defined as a type of card is used as a substitute for cash or currently known as plastic money. Recently, the use of credit cards increasingly popular among our community, especially business members. Now, there are many credit card companies such as American Express, Visa and Maser Card. According to the Minister of Finance, the use of credit cards is catalyst for a significant inflation problem. In addition, he also predicted that the number of credit card users will increase year to year. Credit cards have pros and cons.

    People do not have to carry much cash for shopping if they have credit cards. For some people, bring plenty of cash when shopping was a burden and worrying. Today there are nearly 50 percent of consumers shopping at supermarkets, hypermarkets, using a credit card instead of using cash as the credit card is lighter and does not pose a problem to be used anytime.

    Next, most people prefer to use credit cards because they do not need to change their currency when abroad. If we travel abroad, we may need to change our national currency to the currency of the country we visit. This is not so for the credit card for foreign currency exchange will be done automatically every time a credit card is used. According to the tourists, they prefer using a credit card because they are given special treatment when doing business especially in leading and world-class hotels.

    In addition to the facilities can be enjoyed, credit card holders often face problems. This is because not all dealers provide card credit service especially ordinary shops or small shops. Therefore, local hotels or shopping centers that can be visited by the credit card holder is limited. Therefore, the credit card may be a problem if the shopping center or store rejects the use of credit cards.

    In addition, cardholders may shop excessive because they are not aware or concerned with the money spent. Therefore, we often hear complaints from owners of credit card big debt problems. Once satisfied to spend, they may be suffering having to think how to pay back the amount of money they spend.

    As we all know, business credit card is carried out with the use of computers. Therefore, there is likelihood of fraud in the transaction. Although this rarely happens, most traders are not confident with customers who use credit cards, especially credit cards that not popular. The dealers are not willing to bear high risks by accepting credit cards. Police Commercial Crime Division often reminds traders to always be vigilant when dealing with consumers who use credit cards.

    In conclusion, there are some advantages and disadvantages of using credit cards. However, if a credit card owners use the facility wisely, they will get benefit a lot. On the other hand, if the credit card is not used carefully, the owner will suffer from the burden of debt incurred several years.

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  51. FAKHRUL RADZI HILMI BIN MOHAMED
    10B05019
    2BCET

    The use of credit card make easier way in organize money especially to go shopping or whatever. It is suitable for today new modern lifestyle but this credit card may had advantages and disadvantages.

    In my opinion young adults having credit cards give more disadvantages than advantages.

    Firstly, young adults in their mind always want to do enjoying stuff. Not thinking wisely spend of their money because they do not have any responsibilities of their own. It depends on their owner mind either spend what it should neither not.

    Secondly, it is easier in being swindle by friends or anyone. Even in new modern age gave human more comfortable life style but there also created many kind of bad stuff such as software, gadget and also hacker being more educated nowadays.

    Thirdly, over usage of credit card may cause debit which bring the young adults desperate in gain money which cause them to do over limit of their mind such as steal, selling drugs, ah long and anything. Once step in it is hard to go back but still can.

    Fourthly, in islamic perspective. If that thing cause more deterioration better less use of it or not use at all. In this point it is depend on their own mind as I explained it before.

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  52. ROSLINA BINTI IBRAHIM
    09B02018
    2BMET


    Assalamualaikum miss sara and all my classmates...

    About our topics,i don’t know whether using a credit card for young adults have more pros than cons or vice verse. For me,it depends on how we treat to use it. Generally, whenever we ask a question about credit cards, we’ll always get different responses. Some people will tell you “it's a debt” and even “enemy in silent” and others will say that you can take advantage of many rewards. Credit cards not for everyone. They are people can pay their bills at the end of month and not spend overlimits.so,they intend to use credit cards. But for people that don’t like debt,they like using cash money.Young adults that wish to use credit cards should be aware of what they wish.

    For those who like to buy anything online,it is easier for them if they have credit card. Without credit card,we were not be able to buy those things online that we are trully wanted. Even to get the aeroplane ticket we need to use credit card. Nowadays, we always heard about snatch crime. So, It is safe for young adults especially girl if they use credit cards.futhermore, it is easier to carry around. We do not need to bring a lot of money if we have a card in our purse. Even if we lose our purse,we don’t have to wory about getting our money back because we can just give call to cancel our cards and get new card. We just need to pay a few charge for a new card. It is worth than losing a large amount of money. Other than that, we will get rewards for our spending. Some reward credit cards will give us points or cash back for every sen we spend. So,we do not lose anything. We got back what we spend for. Once we got enough point,we can redem them for items like gift card and even money cash. Unlike cash, when you spend it, you’re done. No reward got. Sometimes by using credit card,it teach us to be more responsible and able to manage our finances in the future as we grow.

    It is not good for a young adults to use credit cards because they are easily attract to buy thing without thinking. They easily spending over the limits. Sometimes credit cards have its own adding charged like ‘ALONG’. Besides, it can lead to debt. If we spend without thinking we may lead ourselves into some serious debt. As we all know, not every places have the credit machines,usually only at the luxury restaurant we can pay by using credit cards. We will having trouble if we didnt bring money besides of cards. Many places use cash money than credit cards. Other than that, if we use money cash,we do not have to worry about bills in the end of month. We can manage our expenses wisely because we have money in our hand. Sometimes when young adults use credit card,they are not able to pay the bills at the end of month because it worth more than the budget. But if the young adults from a rich family, paying the monthly bills will not be a problems. Their parent will pay it for them. They will not worried about the bills. With that, it will teach them over spending , not independent and not be able to manage their finances in the future.

    Last but not least, it depends on person to use either credit cards or money cash. But for me, i like using cash money than credit cards because i don’t need to pay the bills at the end of month. I can manage my own money without worries of debt

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  53. Ummu Aiman bt Suhaimi
    10B06017
    2BPET

    Assalamialaikum W.B.T

    Nowadays,credits cards are easy to obtains, therefore many of young people were being exposed to this facilities that prefer them to enjoy their owned lifestyle.Lots of this young people were realised that having a good credits score in our society can really make life easier,and it’s often a good idea to start early.Usually the good credits will help you lower your insurances rates,obtain your first jobs,purchase your first car,purchase your first home, rent your first apartment, and sign up for a cell phone plan.
    In my opinion, credit is an important part of just about any young adults life. This is where you’re going to start off your adulthood. Credit is important because this is going to allow you to become more responsible, learn how to manage your finances, and most importantly, it will allow you build credit so that you can buy that house or car in the future that you’ve always dreamed about.
    Generally, whenever you ask a question about credit cards, you’ll always get mixed responses. Some people will tell you to “stay away” and others will say that you can take advantage of many rewards. Credit cards aren’t for everyone. They are for those that can pay their bills off in full and not spend over their heads. If you feel you’re a responsible young adult, then I highly suggest you take a student card for a test spin.
    Before you even look for a student credit card application, make sure that you know what the pros and cons are that are related to student credit cards. I made up a quick list that will show you a few pros and cons that you should be fully aware of .Student credit cards are great for those that are looking to buy anything online. Without a credit card, you’re not going to be able to buy those things online that you truly want. By now, you’ve probably also realized that things online are generally cheaper than items in stores.
    Lot easier to carry around. If you have a card in your wallet, you won’t have to worry about carrying around a lot of money. If you lose your wallet or purse, you won’t have to worry about getting your money back because you’re only responsible for the first $50 that’s spent on the card from purchases you didn’t make.
    Get rewards for your spending. Unlike cash, when you spend it, you’re done, some reward credit cards will give you points or cash back for every dollar you spend. Once you get enough points, you can redeem them for items like gift cards, etc.
    Credit cards are lot safer than carrying cash.The most important part of having a credit card is that you’re able to establish your credit history. The long you have your card and the more responsible you are, the higher your credit score will be. The higher your score, the better your rates will be when you apply for a loan. Without a credit score, you won’t be able to get a mortgage or any type of loan.
    Fees...If you don’t pay your card off in full or you go over your spending limit, etc, you can find that you’re going to be paying a lot in fees. Make sure that you always pay your card off in full to avoid any type of fees that may occur.They can be dangerous. Some people tend to treat the plastic like a toy. I highly recommend you don’t do this. Make sure you know how much you’re spending and make sure you’ll be able to pay it off at the end of the month. Credit cards are money.Can lead to debt. Yes, credit cards can be dangerous and this one goes with the one mentioned above. If you spend like a mad man, you may lead yourself into some serious debt.
    Credit cards are only dangerous when the user makes an error. If you can follow my golden rule, you’ll be fine.. never spend more than what you can afford and pay on time, it’s that simple. If you can’t do this, then you’ll most likely head down the debt road

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  55. Assalamualaikum miss sara and all my classmates...
    About our topics,i don’t know whether using a credit card for young adult have more pros than cons or vice verse. For me,it depends on how we treat to use it. Generally, whenever we ask a question about credit cards, we’ll always get different responses. Some people will tell you “its a debt” and even “enemy in silent” and others will say that you can take advantage of many rewards. Credit cards not for everyone. They are people can pay their bills at the end of month and not spend overlimits.so,they intend to use credit cards. But for people that don’t like debt,they like using cash money.Young adults that wish to use credit cards should be aware of what they wish.
    For those who like to buy anything online,it is easier for them if they have credit card. Without credit card,we were not be able to buy those things online that we are trully wanted. Even to get the aeroplane ticket we need to use credit card. Nowadays, we always heard about snatch crime. So, It is safe for young adults especially girl if they use credit cards.futhermore, it is easier to carry around. We do not need to bring a lot of money if we have a card in our purse. Even if we lose our purse,we don’t have to wory about getting our money back because we can just give call to cancel our cards and get new card. We just need to pay a few charge for a new card. It is worth than losing a large amount of money. Other than that, we will get rewards for our spending. Some reward credit cards will give us points or cash back for every sen we spend. So,we do not lose anything. We got back what we spend for. Once we got enough point,we can redem them for items like gift card and even money cash. Unlike cash, when you spend it, you’re done. No reward got. Sometimes by using credit card,it teach us to be more responsible and able to manage our finances in the future as we grow.
    It is not good for a young adults to use credit cards because they are easily attract to buy thing without thinking. They easily spending over the limits. Sometimes credit cards have its own adding charged like ‘ALONG’. Besides, it can lead to debt. If we spend without thinking we may lead ourselves into some serious debt. As we all know, not every places have the credit machines,usually only at the luxury restaurant we can pay by using credit cards. We will having trouble if we didnt bring money besides of cards. Many places use cash money than credit cards. Other than that, if we use money cash,we do not have to worry about bills in the end of month. We can manage our expenses wisely because we have money in our hand. Sometimes when young adults use credit card,they are not able to pay the bills at the end of month because it worth more than the budget. But if the young adults from a rich family, paying the monthly bills will not be a problem. Their parent will pay it for them. They will not worried about the bills. With that, it will teach them over spending , not independent and not be able to manage their finances in the future.
    Last but not least, it depends on person to use either credit cards or money cash. But for me, i like using cash money than credit cards because i don’t need to pay the bills at the end of month. I can manage my own money without worries of debt

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  56. This comment has been removed by the author.

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  57. MUHAMAD AZIZAN BIN MAT TAHIR
    10B02004
    2BMET

    Hello and happy fasting to all. I felt quite excited when the first had to build a blog myself. Be the first to do this, Miss Sara has a relatively hot topic for discussion of the pros and cons of young adults having credit cards.

    To all information, credit card concept is different from a debit card.

    Credit cards like a loan given to you which can be used to make payments. Good or bad credit card depends on how you use it. Usually there is a limit to the amount of credit you use. The bank will determine the amount based on annual income and credit history credit card use and whether you have a good payment record or otherwise.

    Debit cards allows you to pay for any purchases without using cash. But your money will be taken directly from your savings account. It means you can only use debit cards to pay if the bank account you have no money.

    The use of credit cards in today's increasingly widespread since the late among youth around the world. Especially to those who are born into the family quite rich. We need to think whether to use a credit card will draw more good or harm to us.

    The pros or advantages of using the credit cards are card holders can expedite the purchase. They do not need to bring plenty of cash for shopping in supermarkets and only need to sign the bill of goods purchased. After that, the cardholder need to pay bills at the end of the month and even then can be done in installments according to the ability of the cardholder.

    In addition, the use of credit cards is more secure. Credit card holders do not have to worry their money stolen or looted during the shopping and traveling. If credit card is lost or stolen, they can make a report and card holders will not incur the risk of lost cards.

    For the cons or disadvantages of young adults having credit cards is that they often have very little to no experience with financial. More often than not, their parents, friends or other relatives have been able to help them pay for the things they want or need, such as tuition, food, new clothes or entertainment. This lack of experience also brings with it a lack of foresight and understanding of money. Although they can be extremely useful, they are dangerous in the wrong hands.

    Nevertheless, cardholders may shop excessive because they are not aware or concerned with the money spent. Therefore, we often hear complaints from owners of credit card debt problems of many. Once satisfied to spend, they may be in a state of depression because of forced to think how to pay back the amount of money they spend it.

    As a summary, concluded that there are some advantages and disadvantages of using credit cards. However, if a credit card owners to use the facility wisely, they will benefit a lot. On the other hand, if the credit card is not used carefully, the owner will suffer from the burden of debt incurred several years. In my opinion, although the use of credit cards be more popular from year to year, but the 'plastic money' is certainly not possible to replace the actual cash.

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  58. SITI NORHAJJAR BINTI WAHID
    10B02043
    2BMET

    Nowadays, credit cards were most famous among of young adult. The most interesting about the credit cards is that they begin to be used in the late adolescence, when children are developing their abilities. All of you, credit cards have pros and cons
    There are lots of advantages credit cards have. Such as, Credit cards can help for emergencies like medical bills caused by accidents, provide a convenient payment method for purchases made on the Internet and on the telephone. Give you incentives, such as reward points, that you can redeem and etc.
    After that, they are disadvantages, such as damage your credit rating if your payments are late, cost much more than other forms of credit, such as a line of credit or a personal loan, if you don't pay on time. Allow you to build up more debt than you can handle and. have complicated terms and conditions
    As a conclusion, credit cards could be considered the best friends as long as they are used in a right manner and the payments are made without getting in debt. The main advantage of having a credit card is convenience but if you're not good at budgeting and managing your finances, the over-use of credit cards can leave you with a debt that's very difficult to pay back.

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  59. Mohd Farhan bin Mohd Fozi
    09b02008
    2BMET

    Credit card is the card like license or ID card. Credit card was place in the wallet. Hahaha. Nowadays, many people use the credit card. It is because the credit card has many benefits. In it their benefits, it also has the disadvantages.

    The benefits of credit card are easy to buy anything that has high value.
    For example, when we go to shopping at mall or anywhere, we want to withdraw the money at the ATM. When arrive at the ATM machine we saw many people want to withdraw their money.
    We not worry about that because we have card credit. We no need have the cast money to buy anything.
    Second benefits are emergencies. Credit cards can also be useful in times of emergency. While you not have cash money because of not spending over the limit, sometimes emergencies such as your car breaking down or accident may lead to a large purchase like the need for a repair a car or a motel room for a sleep.
    Third benefits are insurance cover. The insurance is cover when buying an item, cash back, air miles and can save on holidays when booking online. This is being safety for you to buy something.
    Fourth benefit is interest free credit. Normally, up to 60 days interest free credit. It can lower your budget.
    Fifth benefit is it more flexible. You can pay small amounts each month or can pay up to the total balance. There are no need penalties. It no needs you to pay a large amount of this.
    Sixth benefit is can buy in online. You can buy something with online and easily.
    No need the cash payment for this.

    The disadvantages of credit card are your budget is blowing. You cannot spent your money if use creditcard.y our always buy anything that you want but you don’t know you can afford it or not and you don't know how balance that you have. It can make you in debt and you must pay more.
    Second, high interest rates and increased debt. Credit card companies charge you an amount of interest on each balance that you don't pay off at the end of each month. This is how they make their money and this is how most people get into debt and get bankrupt.
    Third, credit card is stolen. They may be stolen if you lose your wallet or someone may steal your credit card number from a receipt, over the phone, or from a Web site and use your card to rack up debts.
    Fourth, make you in debt. Your will feel stress when you cannot pay your credit card. You will die of this problem.
    Fifth, not all shop or mall have machine of credit card. That may you pay in cash money.
    Sixth, cannot buy in a small amount. For example you want but a bread of food. You cannot pay in credit card. You must pay in cash.

    For me, I don't think the student use a credit card because they not have the monthly income. They also make a loan for their study. So, this will make their life is down because of card credit.
    Thank you and sorry for my word are not well.
    hahahahah

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  61. ahmad asraf ab manaf
    10b02028
    2bmet

    thanks 2 all my fans especially mr.Z and mr.F =)

    I do not want to comment on the length of the use of credit cards .. all visitors can find out huku use of credit cards on the website

    http://www.pekanrabu.com/zubir/kadkredit.html

    tenq

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  62. MUHAMMAD FADZLAN BIN RAMLI
    10B02011
    2BMET

    Come on asraf...Put your positif coment to suport your advantage credit card using. Don give up my friends..Give genius idea asraf. hehehe... No link just put your own word. ^_^ waiting your comment

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  63. SHAHADAN BIN AHMAD
    10B02008
    2BMET

    From my point of view, nowadays the usage of credit cards in our society could be divided into pros and cons.

    First of all, credit card may be defined as a type of card that is used as one of the substitute for cash and it is becoming increasingly popular in the today's modern lifestyle of our society.

    Pros...
    In the growing world economy, the credit card is expected to replace the use of cash in a little while longer. Facilities available at the credit card not only facilitate a transaction but are also capable of providing security cover to the handle. For example, a person does not need to carry cash which can cause a lot of exposure to hazards and risks of another robbery. Especially nowadays there are too many cases of robbery and snatch theft that cause of bad injury and death. In transaction, credit cards can make our daily transaction easily and upgrading our life style that can leads ours to achieve our country objective to become a developer country in the world.

    Cons...
    The use of credit cards can cause a person to spend a lot of money to things that they are actually not affordable. They were easily bought what they want and lead those to buy a lot of thing that might be not necessary. For credit card user who loves to shop, they would have a tendency to spend over their budget and cause them to be declaring bankruptcy. This situation can give a lot of negative effects for their self and people surrounding them. Credit cards are not used to show-off, let alone the unnecessary expenses. Basic usage and credit card is to be understood. Failure to understand the cause of a credit card abuse to cause suffering to himself and his family. We need to understand why such a situation occurs in our society, especially among the young. Among the key factors is the attitude of take it easy on the debt. Many people spend as they please and beyond the limit.

    I suggest that the bank should issue minimum requirements limit eligibility to those with income of RM3500 and above can use a credit card. Eligibility applied at the present time is too low and not consistent with the increased cost of living of the people of this country. Allowing people with low or moderate income consuming credit card will only expose them to excessive debt burden.

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  65. Nurul Atika Binti Harun
    10B02036
    2BMET

    The credit cards are the normal part of our life. They are used everywhere. It doesn’t matter whether you make the purchases in the common stores or the online shops; this payment method is offered in the majority of them.

    Some of the advantages include:

    • Learning fiscal responsibility. Controlling their spending and limiting it to what they can repay doesn’t come naturally to most young adults, but they soon learn that it’s necessary if they are going to stay on top of their limited resources.
    • Building a credit history. It goes on a person’s credit history when they charge small amounts and repay them promptly. Those positive records will follow them when they want to rent an apartment, buy a car, or apply for certain jobs after college.
    • A sense of autonomy. At age 18, nobody has to have their legal documents, signed by parents or guardians. This independence helps students make the transition from adolescence to adulthood.
    • A resource for emergencies. College students are notoriously poor, and when emergencies come up, they may be left without any means for responding to them. If a parent falls ill, a car is wrecked, or books cost more than their Pell grant, a student with a credit card has means to take the necessary actions.

    Some of the disadvantages include:

    • Not learning fiscal responsibility. Students who have not been taught the difference between cash and credit often feel and act as though they’ve just been handed a wad of cash that they can spend however they please. If this happens, it won’t be long until they find themselves in a worse situation than they started out in.
    • Building a credit history. It also goes on a person’s credit history when they don’t repay their charges promptly. These negative marks will make it more difficult to get credit in the future, when it is far more necessary, than it would be if they just didn’t have credit at all.
    • A sense of desperation. No debt digs a hole faster than credit card debt. Many students are already struggling to support themselves, and a heavy credit card burden makes that worse.
    • A resource for luxuries. When their friends are going out, but they’re broke except for that credit card, it may feel like an emergency, but it’s one that they’ll be paying for with serious interest.

    So, based on the reasons I gave, there are advantages and disadvantages when use the creadit card. But my personal opinion is I do not agree with the use of cards kreadit because for me use the creadit card more to encourage us to spend more if we still create a student loan but it up to everbody opinion.

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  66. SHUAIB BIN ABDUL RAHMAN
    10B02048
    2BMET

    Assalamualikum w.b.t,

    With the development of technology, credit cards are synonym with the hectic lifestyles among the adults and professional. But nowadays, the uses of credit cards are not limited to the adults but also among the youth who just started their carrier or college students. The uses of credit cards have brought both positive and negative effects.

    Firstly, about the pros of the young adults having credit cards, it gives ease to the young adults in their daily business. By means, they no need to bring a lot of money, because everything in the credit cards (The green money). Because, for some of us, bringing a lots of money, means the heavier and greater sub things that they need to bring along. Need to be responsible for every banknotes and coins that they have, but by using the credit card, the owner no needs to worry any more.

    Secondly, the pros of having the credit cards is to give ease to the parents so that they can control the amounts of allowance that need to be given the their young adults that maybe still studying in or out Malaysia, or even for their young adults that still pending to find jobs. If not, the young adults like us, age around 18 to 24 years old, will spend the money that been given without limitation. If there is some of us do know how to control their spending, that is the advantage for them.

    Last but not least, the young adults will avoid themselves from the harm from being rob, because they did not bring a lot of banknotes with the. The credit cards are the safer way from being harm while you are walking alone by the streets.

    The cons of the usage of the credit cards among the young adults are firstly, the usage of the credit cards it is hardly to control once the limitation of the credit cards is over budget of the user itself. Some people said that the credit cards is the women best friends or the term of shopaholic, is it true or not, for me, it depends on the usage of the owner itself. But the probability of the usage that above limitation is high because the people’s needs are hardly to be control.

    The next cons, that most of the young adults have lack of experience with controlling their financial obligations. More often than not, their parents, friends or other relatives have been able to help them pay for the things they want or need, such as tuition, food, new clothes or entertainment. This lack of experience also brings with it a lack of foresight and understanding of money.

    In conclusion, the use of credit cards is seen as one way of life now. However, the use of credit cards is not prudent to bring more harm than good. Nothing wrong with using one or more credit cards, but what is important here is that proper financial planning and strong self-discipline in daily expenses. But by denying the credit cards have no good usage for us, the young adult’s generations; it is truly a lie.

    Thank you!!
    Danken Shun=)

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  67. MUHAMMAD ARHAM BIN JAAFAR
    10B02001
    2BMET

    Assalamualaikum....


    In this new era, there are a lot of changes and improvement that come across our life. One of it is the usage of the credit card instead of cash. Spending without cash give more benefits. Did you agree with this statement? Before we go any further on, let’s just we stop a while and think on the pro and cont using the credit card instead of cash.

    One of the benefits of using credit card is it will be easier for us when doing the payment than using cash. By using cash, some people feel that it is wasting of time and make it hard on them. This is because sometime people do not like to bring a bunch of cash with them especially coins. They kind of ashamed if out of blue the cash is not enough when they are doing the payment or the money drop on the floor. This situation makes them come out with the conclusion that by using credit card it will be easier on them.On the other hand,credit card is more compatible than cash. It’s better for you to hold a card than bringing a bunch of cash right. Card credit also can be use anywhere and anytime, if there’s any emergency occur we can rely on it. We can not make sure that we’ll have enough cash when it’s needed. There are some of benefits or advantage of using credit card.

    Although, there are many benefits and advantages of using credit card, there are also drawbacks of it.By having credit card people tend to spend more than what they are suppose to. So, they will become spendthrift, which is not a good for them. By having credit card some people thing that everything will be easy on them, actually they are wrong. If they are using more than the amount of money they have, they will be in debt with bank, and this will lead to their bankruptcy. It is the most horrible thing that can happen to us if we misuse the credit card.Like saying better safe than sorry....

    As a summary,the main advantage of having a credit card is convenience but if you're not good at budgeting and managing your finances,the over-use of credit cards can leave you with a debt that's very difficult to pay back.

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  68. MUHAMMAD ARHAM BIN JAAFAR
    10B02001
    2BMET

    Assalamualaikum....


    In this new era, there are a lot of changes and improvement that come across our life. One of it is the usage of the credit card instead of cash. Spending without cash give more benefits. Did you agree with this statement? Before we go any further on, let’s just we stop a while and think on the pro and cont using the credit card instead of cash.

    One of the benefits of using credit card is it will be easier for us when doing the payment than using cash. By using cash, some people feel that it is wasting of time and make it hard on them. This is because sometime people do not like to bring a bunch of cash with them especially coins. They kind of ashamed if out of blue the cash is not enough when they are doing the payment or the money drop on the floor. This situation makes them come out with the conclusion that by using credit card it will be easier on them.On the other hand, credit card is more compatible than cash. It’s better for you to hold a card than bringing a bunch of cash right. Card credit also can be use anywhere and anytime, if there’s any emergency occur we can rely on it. We can not make sure that we’ll have enough cash when it’s needed. There are some of benefits or advantage of using credit card.

    Although, there are many benefits and advantages of using credit card, there are also drawbacks of it.By having credit card people tend to spend more than what they are suppose to. So, they will become spendthrift, which is not a good for them. By having credit card some people thing that everything will be easy on them, actually they are wrong. If they are using more than the amount of money they have, they will be in debt with bank, and this will lead to their bankruptcy. It is the most horrible thing that can happen to us if we misuse the credit card.Like saying better safe than sorry....

    As a summary,the main advantage of having a credit card is convenience but if you're not good at budgeting and managing your finances,the over-use of credit cards can leave you with a debt that's very difficult to pay back.

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  70. NURUL NAJWA BINTI MOHD
    10B02034
    2BMET
    Assalamualaikum w.b.t ..
    I am so excited to comment this blog from Miss Sara. According to this topic, I think it is more pro than conts because a credit card can be a useful item to have, but it can also be destructive to your life if you are not careful.
    Owning this little piece of plastic has its pros as well as its cons. A cons to having a credit card is that you can have it on hand in case an emergency arises. As beneficial as it is can be, you must be able to distinguish between a real and a fake emergency. For example, using it to pay for an immediate surgery that your insurance does not fully cover is an emergency; a new purse is not. Another benefit to having a credit card is that it can help build your credit score. There is a catch, however, because simply having the credit card is not enough. Credit cards are excellent financial tools when used correctly and by laying down the ground rules while your child is still young it gives them the best chance for success.
    Even though the cons for having credit card, they make their payments on time, the interest accumulates which forces the balance to increase. Before they know it, they are in over their heads with credit card debt and it becomes a serious problem. Unfortunately, this is a common disadvantage of having a credit card. An obvious downside to having a credit card is that you put yourself at risk for identity theft. When you buy online or from a store, you are putting your faith in the security measures of the company and the individual employees. All you can do is hope that your information will not end up in the wrong hands. Another things are, it may be difficult for young people to handle the responsibility. They are learning to manage a lot of things at that time and throwing credit into the mix may be difficult. If they have credit card they will almost certainly use the card improperly at first. In additional, it teaches them to borrow on credit rather than save for what they want.
    The conclusion that can I made are while having a credit card has both its pros and cons, it is up to you to use it wisely. Contrary to the thoughts of some, owning one is a big responsibility. When used correctly, a credit card can be a quite beneficial item to have in your wallet.

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  71. NURUL NAJWA BINTI MOHD
    10B02034
    2 BMET
    Assalamualaikum w.b.t ..
    I am so excited to comment this blog from Miss Sara. According to this topic, I think it is more pro than conts because a credit card can be a useful item to have, but it can also be destructive to your life if you are not careful.
    Owning this little piece of plastic has its pros as well as its cons. A cons to having a credit card is that you can have it on hand in case an emergency arises. As beneficial as it is can be, you must be able to distinguish between a real and a fake emergency. For example, using it to pay for an immediate surgery that your insurance does not fully cover is an emergency; a new purse is not. Another benefit to having a credit card is that it can help build your credit score. There is a catch, however, because simply having the credit card is not enough. Credit cards are excellent financial tools when used correctly and by laying down the ground rules while your child is still young it gives them the best chance for success.
    Even though the cons for having credit card, they make their payments on time, the interest accumulates which forces the balance to increase. Before they know it, they are in over their heads with credit card debt and it becomes a serious problem. Unfortunately, this is a common disadvantage of having a credit card. An obvious downside to having a credit card is that you put yourself at risk for identity theft. When you buy online or from a store, you are putting your faith in the security measures of the company and the individual employees. All you can do is hope that your information will not end up in the wrong hands. Another things are, it may be difficult for young people to handle the responsibility. They are learning to manage a lot of things at that time and throwing credit into the mix may be difficult. If they have credit card they will almost certainly use the card improperly at first. In additional, it teaches them to borrow on credit rather than save for what they want.
    The conclusion that can I made are while having a credit card has both its pros and cons, it is up to you to use it wisely. Contrary to the thoughts of some, owning one is a big responsibility. When used correctly, a credit card can be a quite beneficial item to have in your wallet.

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  72. thank to izzudin n fadzlan for supporting my comment...

    to asraf....

    إنما أبيح للضرورة وإنما تستيقن الضرورة بعد الطلب

    Meaning : Indeed, what is required for the emergency will surely need the confidence of the existence of emergency after the search (the marriage) - (Syarhul Umdah, 1 / 426)....

    i doesnt said that we cant use the credit card, but we need to survey about that before take it. So, for your help, i list all the Islamic banking that prepare a credit card that follow syaria :

    1. Affin Islamic Bank Berhad
    2. Al Rajhi Banking & Investment Corporation (Malaysia) Berhad
    3. AmIslamic Bank Berhad
    4. Asian Finance Bank Berhad
    5. Bank Islam Malaysia Berhad
    6. Bank Muamalat Malaysia Berhad
    7. CIMB Islamic Bank Berhad
    8. EONCAP Islamic Bank Berhad
    9. Hong Leong Islamic Bank Berhad
    10. Kuwait Finance House (Malaysia) Berhad
    11. RHB ISLAMIC Bank Berhad

    hope you satisfy with this.... :)... peace no war...

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  73. SITI NURHAFIZA BINTI LATIF
    10B02081
    BMET
    In my opinion, I think nowadays credit card is representing a major element for young adults. Generally speaking, credit cards have pros and cons related to young adults. Thus, we should beware before applying credit cards. There are a lot of advantages having credit cards, the major advantages of having credit card is that they permit people to make large purchases such as buy shoes, clothes, medical bills and etc. Credit cards are quick and easy to use even if u is abroad. It is making useful for dealing with unexpected costs. The credit cards are flexible to pay for things as you need. If we pay back our balance quickly then the cheaper credit cards will be for our business. Credit cards reward depends on the companies, the types of reward program such as cash back, airline rewards and other merchandise programs. The disadvantages having credit cards have relatively high rates of interest compared to loans and other finance. It’s means that if you allow interest to accrue the cost of using credit cards can be very high. Then, the over expenses because the over limit of budget for us. We won’t get into trouble if we know how to use the credit cards in a right manner. I guess that’s all.

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  74. HAIKAL MUHAMMADI BIN MANSOR
    10B05018
    BCET

    Credit cards, is it a solution to our money problem or is it actually a source to our money problems? In my own opinion credit card do not solve our money problem, and even give more problem if it is own by young adult. Young adult is a person who age from 20 to 25 and person on this age, do not actually think or had money planning because they still confuse and do not even know what to do with their life. Young adult who work and gain his own money will spend most of the salary to buy self needs and do not have any money saving. Back to the usage of credit card issue among young adult. So, do we still believe that if credit card can bring money freedom to young adult? I doubt it. Credit card means we will buy goods with debt and for sure this will make lot of young adult to increase in debt and finally to be unable to repay, causing problems with the economic balance and with personal credit too.
    But if the card is use wisely and with good manners, it will bring advantages to the young adult. They must use credit card on good and important purpose only, the thing that they cannot afford to buy with cash they can use credit card but make sure they had money planning and they also must make sure they are afford to pay back the amount spend using credit card. As a conclusion young adult are advised to find their own money freedom without getting involved in any debt system but if they still need credit card to fulfill their needs please use it wisely and had some plan to make sure we are not trap in serious money problems.

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  75. Salam 1 Malaysia,

    Nowadays, credit cards are easy to obtain and play a very important role in people's lives and it usage has increased. However, having a credit card has its own advantages and disadvantages. Therefore, before applying think about the pros and cons of young adults having credit cards.

    Some of the pros of having it are as follows:

    - No need to bring around a wallet full of cash every time you wish to purchase something.
    - No need to worry about not carrying enough cash because you can use your card at almost any shop that accepts credit card transactions.
    - You can monitor your monthly expenses on the credit card through the statement sent it to you.
    - You can take part in instalment payment with 0% interest for 12 months methods as an option offered by several shops.
    - You can participate in the rebate programs and other promotions offered by different types of credit cards. Some offers travel rewards, meal rewards, and many other promotions.

    There are lot more benefits with credit cards, let me give you a short list of the most common cons of having it:

    - Having a credit card makes you feel that you could buy anything around you that could be beyond your afford limit. This could affect your mindset and the things that you wanted but don't really necessary then will eventually become a "need" to you. This leads to buying unnecessary things which could end up buying things that you can't really pay for at the end of the month. This then gets carried over to your next month bill with an interest rate.
    - Interest rates. We all have heard of stories about a friend, a family member, or a friend of our friends having so many problems because of having a debt which he or she could not pay. This usually happens because of overlapping charges and interest rates.

    To sum up, it seems that the demands of credit cards will continually increasing due to the fact that this payment method has developed few characteristic that could be used in different situations. However, there is no easy answer to the credit card decision. It's all depends on the perspective of the person his/herself that using the credit cards. Often, a debit card will work just as well, but there are times when credit card is important to have. Everyone must make the decision for themselves.

    Thank you.

    by,
    Rhenita Heng Gek Lee
    09B02111
    3BMET

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  76. Mohd Rozi Bin Bakar
    09B02011
    2BMET

    Credit card can be define as a card that use to replacement of money. Nowadays,all people want something with easily without put upon them. Now many credit card is produced from any company and it easy to obtain by young adults. There are a few pros and cons related to young adults.

    For the advantages, they no need to bring a lot of money to shopping. For several people, bring a lot of money will burden them. Credit card is more light and not give problems for them when in desperate situation compared then money. Besides, the uses of credit card will make them more save compare the money because the credit card can not change the ownership. For young adults that continued his study to overseas, they can directly use the credit card to buy something. They no need change the money.

    For the disadvantages, the holder credit card often give them some problems. This is because when they want to buy something at mini market or any stall, they will have problem when the sales dissent their credit card. Other than that young adults like to waste their money. They buy something that cannot give benefit for them. For example,nowadays, majority of the young adults have their own sweet couple. Normally they will do everything for their couple with spend a lot of money. Then, they do not realized that they had owed. Furthermore, it also can changes the attitude someones. Because having a credit card, they feel they can get anything what they want. They always be hanging with credit card. When they don't have it, they will feel desperate.

    That's all from me. Hope we all can be smart person when use the money or credit card..Thank you..

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  77. MOHD IZZUDDIN BIN IBRAHIM
    2BMET
    10BO2069

    A credit card can be an asset to your lifestyle, but if not handled carefully it can become a liability, especially if you find it so convenient and easy to use that you lose control of your spending.

    The pros of having a credit card is safe because don’t have to bring cash and also easier to handle emergencies, such as car breakdowns. Besides that, adults can control all purchases made on the card show up on the statement, so they will know exactly where the money is going. The paper trail created by the credit card is likely to discourage adults from charging things that they may not be allowed to have. Adults will be faced with daily spending decisions. If they don't learn how to say no to spending, their credit will eventually be maxed out and cut off credit. This will be given to them an experience to spend their money.

    The cons of having when someone who have credit card do not make payment before date due or over the limit, it will become loan whereby will make that person need to pay more. Besides that, large unexpected expenses can really raise issues with budgeting. Having a credit card that is just used for these expenses will make additional time to pay for expenses that someone might not have the money available for at the time of the expense. Having the credit card also can make adults to have bad attitude that is spendthrift. If they just using credit card to shopping without thinking about their budget, they will make their self in trouble.

    The conclusion is, the credit card usage has good and bad effect but if use it in the wrong way, it will be problem. So, it’s depend to the adults how to use and manage it by their own.

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  78. Assalamualaikum and good morning to all..
    This is my first time join miss Sara`s blog...
    I think the topic is so interesting and important to young adults like me..

    Before we used the credit card,we need to think first are we really need to use the credit card or just to follow the trend??
    We need to remember that using the credit card have its own pro and cons..

    Firstly,,let me share some information about the credit card..what`s the credit card??Credit card is the small plastic card may be used repeatedly used to borrow the money,or buy product or services on credit.It was issued by a banks, saving and loans,retail stores and other business as the system of the payment.Credit cards allow the consumer the continuing balance of debt,subject to interest being charged.
    There are some pros or advantages of using the credit card.Let’s go over some of the benefits credit cards offer.A credit card can be a great convenience and provides the safety of not dealing with cash, which is more easily lost.Credit cards are also very useful in the sense that they offer protection under the "Consumer Credit Act" and you can often get your money back in a fraudulent purchase that you would be unable to do with any other payment method.Credit cards also offer “incentive” benefits such as air miles or credit toward future purchases.Other than that,credit cards also give back a percentage of your purchases to approved charities in some cases which is a really nice way to give back at the same time you are spending the money you normally would spend. Therefore there are most certainly benefits for using a credit card.

    Credit cards still cause problems for most people especially young adults more often than they provide benefits. Most of these problems come in the form of excess consumer debt, which arises when one carries a balance on the credit card while paying the absolute minimum each month.These problems occur when one begins looking at the credit line of your credit card as simply bonus money that you now have to spend. Instead you need to allocate existing funds for every purchase you make on a credit card.This way you know that you will be paying off that principal balance at the first of next month rather than carrying for your foreseeable future.

    Another problem that happens with credit cards is that people simply get too many of them. With the credit environment as it is today most people are barraged with new credit card offers practically every day of the week. And some people accept each one of those offers and end up with more credit cards than they know what to do with. With increased numbers comes increased temptation. When you have a multitude of credit cards it becomes much easier to talk yourself into carrying a balance on one of them.You also need to be wary of signing up for credit cards. While, most are legal, some companies are really towing the line between ‘legal and ‘not legal. Watch out for companies who charge a “membership fee” or have a substantial charge for late fees.

    Credit Cards are a great concept but they end up bringing financial ruin to many people because they do not use them properly.Too many people get a credit card and then find that it is maxed out within twelve months. Then for the rest of its existence they end up paying off interest and barely making a dent in the principal. This is not a good way to manage your money.As the conclusion,,it is not the problems to use the credit cads in your daily life but we need to remember that never used the credit card as extra money.Always allocate money from your current funds or monthly income in order to pay whatever you finance off immediately.

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  79. NURUL FATIHAH BINTI JUSOH

    Salam and a very special thanks to miss sara for giving the good topic, that credit card are easy to obtain nowadays and the pros and cons of young adult having a credit card. First of all, What is a credit card?
    A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services. The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.

    Small card that authorizes the person named on it to charge goods or services to his or her account. It differs from a debit card, with which money is automatically deducted from the bank account of the cardholder to pay for the goods or services

    Getting a credit card is a sign of maturity, and must be handled in a mature way. Credit cards can help teenagers learn skills that will be useful later in life. They also run a risk of teaching poor financial management practices if the teenagers fail to make payments on time. Having a credit card when living at home allows teenagers the responsibility of owning the credit card, while still receiving guidance from their parents. There are some advantages for teenagers using a credit card

    Sign of Maturity
    1. Allowing teenagers to own a credit card is a way to show that as parents you feel they are mature enough to handle the responsibility. This is a way to help build a bond between parents and teenagers. The teenagers will realize that their parents no longer view them as children, but instead as young adults who are able to display money management skills.

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  80. Teaching Financial Management
    2. Having a credit card when at home is a way for teenagers to learn financial management before going to college. Parents can work with them and emphasize the need to pay off bills in a timely manner. Parents can also encourage teenagers to determine the actual cost of an item after the monthly interest charges from a credit card company. This can help teenagers learn that purchases with credit cards sometimes cancel out the "sale price" the item is on sale for and end up paying more than the original price of the item before it was discounted. This skill can help teenagers avoid binge spending.

    Security
    3. Teenagers travel away from home and sometimes away form their parents. Having a credit card in their pocket can help them pay for any unexpected expenses, such as a car repair, or the need to get a hotel room for an extra night or two that was not planned for originally.

    Ability to Shop Online
    4. Teenagers can have difficulty shopping online over the Internet without a credit card. Sometimes debit cards do not have the same level of the protection of credit cards. This can allow teenagers to purchase items online while living at home or college. By making these purchases while living at home or college a parent can monitor if the teenagers are managing their credit cards effectively, based on if any collection calls are received.

    Developing Credit
    5. As teenagers get older they need to purchase items on credit. These items include cars, loans, and renting apartments or homes. By getting a credit card and using it responsibility with parental assistance the teenagers can avoid having poor credit, or no credit when it is needed for these purchases or rental agreements later in life.

    Teenagers that have credit cards also have some disadvantages, one being that it could steer the teen to extra and excess spending. This type of card won't let them understand, or realize the harmful effects of improper spending if they have no proper guidance when spending. If the amount of spending goes beyond the credit limit, then the parents will have to pay back the excess money to the providers. This type of card may make the children less responsible in thinking they have someone else's money to spend and they don't have to pay their own bill. Hence, parents should keep a certain credit limit to help avoid damages.

    As a parent, it is very important to carefully weigh the pros and cons of giving your young teenage adult one or more credit cards guaranteed by your good name. No one knows your son or daughter better than you do. Therefore, no one is in a better position to judge if your son or daughter is ready for the responsibility of a credit card. It is a big responsibility, but it can be an excellent learning experience. Remember that parenting requires oversight and patience in all things, including personal finance.Don't Let Your Credit Card Control You!

    Clearly, the benefits as well as the risks greatly depend on the way you manage them. You need to be the one in charge. Seldom let your credit card control you! For example, because something is on sale does not mean you ought to buy it & charge to your card. Carefully think about if it is something you need, if it is something that will be useful for you, & in the event it is possible for you to to back your credit card on time. In the event you have doubts, it is best to pass up the acquisition until you have the money to pay for it.
    As a conclusion, credit cards could be considered the best friends as long as they are used in a right manner and the payments are made without getting in debt

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  83. This comment has been removed by the author.

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  84. sory miss sara.. i forgot to give my matric no and cos NURUL FATIHAH BINTI JUSOH 2BMET 10B02035

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  85. salam,
    this a good topic to discuss,when talk about giving credit card to young adult,the negative part about credit card is,credit card give a loan and has a interest,every time when use the credit card for shopping salesman will charge about 1%-5%for tax a part of that young adult don't have many experience how to use money very well and easy to lose control because no guide from their parents,the young adult also doesn't feel how to get the money,

    but when think from the positive point, credit card also have advantages like in emergency time, furthermore credit card can help young adult more confident and know how to control their finance.

    as summary for this topic,it depend to the man who misusing or not,but for other alternative, parents can us the debit card,debit card similar to the credit card however it has a limit to use depend on how much money in debit card that you reload.

    MOHD AMIRUDDIN NAIM
    2BMET 10B02027

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  86. salam,
    i disagree with shahadan,credit card is only suitable for the young adult from rich family,people with low or moderate income will give a burden

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  87. muhammad adri bin aliasAugust 14, 2010 at 2:13 AM

    salam,

    Listed below are some of the pros and cons of using a credit card.

    The advantages of using credit card:
    1. Immediate use of goods and services
    2. Shopping convenience
    3. Reservation and purchasing by phone or
    internet
    4. Emergency cash

    The disadvantages of using credit card:
    1. It costs money
    2. It tempts overspending
    3. It ties up future income
    4. May result in losses

    So, in my opinion young adults should only use credit card if it is truly needed and not coz to follow trend or to showoff.But still, it depends on individual how they use it whether wisely or not.


    Muhammad Adri Bin Alias
    10B05014
    2BCET

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  88. MUHAMMAD HAMIZAN BIN SUHAIMI
    09C16011
    2BMET

    Credit card is a piece of plastic card with a credit limit. It is very useful. Credit card can be obtained easily and being used by people around the world. It can be used to get the goods or things you want by paying it later. So, we don’t have to bring a lot of money to go everywhere we want to go. The card holder will received the billing information on how much amount that they have used. There are many advantages and disadvantages of using credit card by young adults.

    There are many advantages of credit cards. First of all, we can purchase products or items without wasting much time. It’s all in our hand. We can purchase everything that we want in a blink of the eye. It also can be use on emergency cases such as expensive medical bills when accident happens.

    Other than that, it can prevent person from being robbed. For example, for a young lady whom crazy about shopping and carrying handbag with huge amount of money inside, credit card give a simple way to shopping and provides more safety. Besides, a credit card is easy to carry than a large amount of cash. For example, when we want to buy an expensive product and didn’t carry much money, credit card act as the short-term loan that helps us to shopping.

    On the other side, the disadvantages of credit cards, it can encourage a person to purchasing of goods and services that they not need and cannot afford to buy. It is very wasteful.

    Furthermore, by excessive usage of credit cards can get you even further into debt especially for young adults. You may fall into a larger debt because credit cards offer a features, which can make people spend more than what they can afford.

    In addition, some people have been tricked by giving their credit card numbers to salesperson on the phone. Credit card also has monthly interest charges which person must pay more on what we spend. It is true that credit card can buy anything but if we want to buy small things such as vegetables or sweets, we still couldn’t use it.

    There are some advantages and disadvantages to young person having a credit card. In my opinion, if we are not good at managing our finance, usage of credit card can leave us with a debt that is difficult to pay back especially for young person whom still studying.

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  89. This comment has been removed by the author.

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  90. Muhammad Khairul Amri Bin Mohd Akhir
    10B05010
    2 BCET

    Hello Madam! Here are my opinion on pros and cons of the credit cards.

    Credit cards have been accepted as efficient payment solutions that serve as an alternative option to actual cash. Here are the reasons why.

    • A credit card can increase your purchasing power. You need to pay a bill or you want to buy something but you don’t have cash at hand? No problem. Use your credit card in lieu of money and you’re good to go! You could go on a shopping spree with just this thin and small card, and you would be able to take home a lot of goodies for you and your family.

    • A credit card can allow you to buy things online. Credit cards are still the payment solutions of choice by most Internet merchants. Having your own credit card would allow you to avail of the many items that can be bought from the comforts of your own home, by merely typing in the said details on the face of the same.

    • A credit card is more convenient to carry around compared to cash. You don’t have to bring bunches of bills with you everywhere you would go. All you need is that plastic card and you’ll be alright.

    • A credit card is also a convenient option for frequent travelers. No matter where in the world you are, credit cards would be accepted. There would no need to exchange your bills for the local currency. Simply pay for your expenditures with your credit card and worry about the rest when you get home.

    But it’s not all advantages when it comes to using credit cards. There are also unfavorable considerations which you must bear in mind before deciding on using a credit card for your needs. Let’s take a look at them.

    • Credit cards, with the purchasing freedom they would give you, can compel you to spend more than what your budget would allow. This can have disastrous results. You might end up paying for your credit card bills the rest of your life if you don’t manage to keep that spending habit in check.

    • Credit cards are prone to security issues, especially when it comes to online transactions. The details found in credit cards aren’t really embedded in secure channels. Anyone who manages to intercept the data found on your credit card can easily use your line of credit for their own purposes. This can be avoided by doing business with websites that employ a secured socket layer (SSL), however.

    • Credit cards impose interest rates and other applicable fees. This would jack up your spending more than the given price of the things you buy.

    Credit cards are one of those things that could make your life easier, or could make your life disastrous. Do think about the pros and cons of having a credit card. When all is said and done, choose wisely, and realize the credit cards are weapons that can be used for a bountiful existence or a tragic fate. It all depends on how you wield the same.

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  91. AHMAD LUQMAN BIN MOKHTAR
    09B02003
    2BMET

    The topic is about the pros and cons of young adults having credit cards.

    It is good to have a credit card because you do not have to bring your money along whenever you wanna go to shopping. Another advantage having a credit card is you can evade from the snatcher.What I mean is if you get rob, you can call the bank to block your credit card from being used by other people, but if u bring your money, you only can make the police report and hoping that police will find your wallet.

    The cons of having a credit card is you may overspend it and make you having a high debt. When this occur, it will cause you bancruptcy and your name will be in the blacklist of governmant. Another disadvantage of having credit card is you may got hacked or stolen. Credit card also will cause you more money at the end of the month because credit card have high interest eventhough your usage is in the low amount. That's why sometimes you can read in the paper people will suicide because they cant settle their debt and always live in pressure.

    I think, credit card only suitable for whom that have fix monthly income or for young people who live in the rich family. This is because, at the end of the month, you can manage your debt and do not have to split other people's life. I suggest to whom live in the low and moderate life level, you should have a debit card instead of credit card to avoid over use the money.

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  92. MOHD KHAIRI BIN MAJIDAugust 14, 2010 at 6:49 AM

    MOHD KHAIRI BIN MAJID
    10B05002
    2 BCET

    Hello madam.Here is my opinion about the prons and cons of credit cards.

    The prons of the credit card is:

    1. The credit card has and run the simple operation and even used in groceries too.There is no necessity to check even if young adults paying the correct amount of money because the credit card can calculate the exactly amount of money.

    2. Young adults can shopping online through credit card.In these day, shopping online through internet is very popular.Almost each and every object is merchandised through the online shopping.Almost all the shopping online accept the payment by credit card only and this is easier for young adults to have shopping online.

    3. The payback system is one of the most important. Young adults can use the credit card to transfer the amount of money into account of other person

    the cons of credit card is:

    1. The theft concern.If young adult lost the credit card and it went to the wrong hands, it could be a massacre.The people who have our credit card can buy any objects, just using the credit card.

    2. The process of credit card which is manageable.The problem is associated with the credit card 'debt'.There is a lot of people who became the victim of credit debt in past.

    ReplyDelete
  93. MOHD NAZIERULL MUBIN BIN RAMLY
    10B05004
    2 BCET

    ASSALAMUALAIKUM….

    Everyone know what is a credit card right???...A credit card is a thin plastic card that normally measures 3-1/8 by 2-1/8 inches in size and includes personal identification information, such as a name and signature. It authorizes a person to charge items or services purchased on an account, so that charges will come at a later time. Credit cards were first used in the 1920s, but greatly increased in popularity after World War II.

    The advantages or disadvantages associated with credit cards depend on how they are used or misused by their owners.

    Advantages----

    • Purchase Power and Ease of Purchase - Credit cards can make it easier to buy things. If you don't like to carry large amounts of cash with you or if a company doesn't accept cash purchases (for example most airlines, hotels, and car rental agencies), putting purchases on a credit card can make buying things easier.

    • Protection of Purchases - Credit cards may also offer you additional protection if something you have bought is lost, damaged, or stolen. Both your credit card statement (and the credit card company) can vouch for the fact that you have made a purchase if the original receipt is lost or stolen. In addition, some credit card companies offer insurance on large purchases.

    • Building a Credit Line - Having a good credit history is often important, not only when applying for credit cards, but also when applying for things such as loans, rental applications, or even some jobs. Having a credit card and using it wisely (making payments on time and in full each month) will help you build a good credit history.

    • Emergencies - Credit cards can also be useful in times of emergency. While you should avoid spending outside your budget (or money you don't have!), sometimes emergencies (such as your car breaking down or flood or fire) may lead to a large purchase (like the need for a rental car or a motel room for several nights.)

    Disadvantages

    • Blowing Your Budget -- The biggest disadvantage of credit cards is that they encourage people to spend money that they don't have. Most credit cards do not require you to pay off your balance each month, so even if you only have RM100, you may be able to spend up to RM500 or RM1,000 on your credit card. While this may seem like 'free money' at the time, you will have to pay it off -- and the longer you wait, the more money you will owe since credit card companies charge you interest each month on the money you have borrowed.

    • High Interest Rates and Increased Debt -- Credit card companies charge you an enormous amount of interest on each balance that you don't pay off at the end of each month. This is how they make their money and this is how most people in the United States get into debt (and even bankruptcy.)

    Finally.. we can concluded that there are some advantages and disadvantages of using credit cards.

    ReplyDelete
  94. NUR ZATUL AIZA BT SAID @ SAID
    BCET
    10B05009
    Assalamualaikum and good morning to all..
    This is my first time join miss Sara`s blog...
    I think the topic is so interesting and important to young adults like me..

    Before we used the credit card,we need to think first are we really need to use the credit card or just to follow the trend??
    We need to remember that using the credit card have its own pro and cons..

    Firstly,,let me share some information about the credit card..what`s the credit card??Credit card is the small plastic card may be used repeatedly used to borrow the money,or buy product or services on credit.It was issued by a banks, saving and loans,retail stores and other business as the system of the payment.Credit cards allow the consumer the continuing balance of debt,subject to interest being charged.
    There are some pros or advantages of using the credit card.Let’s go over some of the benefits credit cards offer.A credit card can be a great convenience and provides the safety of not dealing with cash, which is more easily lost.Credit cards are also very useful in the sense that they offer protection under the "Consumer Credit Act" and you can often get your money back in a fraudulent purchase that you would be unable to do with any other payment method.Credit cards also offer “incentive” benefits such as air miles or credit toward future purchases.Other than that,credit cards also give back a percentage of your purchases to approved charities in some cases which is a really nice way to give back at the same time you are spending the money you normally would spend. Therefore there are most certainly benefits for using a credit card.

    Credit cards still cause problems for most people especially young adults more often than they provide benefits. Most of these problems come in the form of excess consumer debt, which arises when one carries a balance on the credit card while paying the absolute minimum each month.These problems occur when one begins looking at the credit line of your credit card as simply bonus money that you now have to spend. Instead you need to allocate existing funds for every purchase you make on a credit card.This way you know that you will be paying off that principal balance at the first of next month rather than carrying for your foreseeable future.

    Another problem that happens with credit cards is that people simply get too many of them. With the credit environment as it is today most people are barraged with new credit card offers practically every day of the week. And some people accept each one of those offers and end up with more credit cards than they know what to do with. With increased numbers comes increased temptation. When you have a multitude of credit cards it becomes much easier to talk yourself into carrying a balance on one of them.You also need to be wary of signing up for credit cards. While, most are legal, some companies are really towing the line between ‘legal and ‘not legal. Watch out for companies who charge a “membership fee” or have a substantial charge for late fees.

    Credit Cards are a great concept but they end up bringing financial ruin to many people because they do not use them properly.Too many people get a credit card and then find that it is maxed out within twelve months. Then for the rest of its existence they end up paying off interest and barely making a dent in the principal. This is not a good way to manage your money.As the conclusion,,it is not the problems to use the credit cads in your daily life but we need to remember that never used the credit card as extra money.Always allocate money from your current funds or monthly income in order to pay whatever your finance off immediately.

    ReplyDelete
  95. NUR ZATUL AIZA BT SAID @ SAID
    BCET
    10B05009
    Assalamualaikum and good morning to all..
    This is my first time join miss Sara`s blog...
    I think the topic is so interesting and important to young adults like me..

    Before we used the credit card,we need to think first are we really need to use the credit card or just to follow the trend??
    We need to remember that using the credit card have its own pro and cons..

    Firstly,,let me share some information about the credit card..what`s the credit card??Credit card is the small plastic card may be used repeatedly used to borrow the money,or buy product or services on credit.It was issued by a banks, saving and loans,retail stores and other business as the system of the payment.Credit cards allow the consumer the continuing balance of debt,subject to interest being charged.
    There are some pros or advantages of using the credit card.Let’s go over some of the benefits credit cards offer.A credit card can be a great convenience and provides the safety of not dealing with cash, which is more easily lost.Credit cards are also very useful in the sense that they offer protection under the "Consumer Credit Act" and you can often get your money back in a fraudulent purchase that you would be unable to do with any other payment method.Credit cards also offer “incentive” benefits such as air miles or credit toward future purchases.Other than that,credit cards also give back a percentage of your purchases to approved charities in some cases which is a really nice way to give back at the same time you are spending the money you normally would spend. Therefore there are most certainly benefits for using a credit card.

    Credit cards still cause problems for most people especially young adults more often than they provide benefits. Most of these problems come in the form of excess consumer debt, which arises when one carries a balance on the credit card while paying the absolute minimum each month.These problems occur when one begins looking at the credit line of your credit card as simply bonus money that you now have to spend. Instead you need to allocate existing funds for every purchase you make on a credit card.This way you know that you will be paying off that principal balance at the first of next month rather than carrying for your foreseeable future.

    Another problem that happens with credit cards is that people simply get too many of them. With the credit environment as it is today most people are barraged with new credit card offers practically every day of the week. And some people accept each one of those offers and end up with more credit cards than they know what to do with. With increased numbers comes increased temptation. When you have a multitude of credit cards it becomes much easier to talk yourself into carrying a balance on one of them.You also need to be wary of signing up for credit cards. While, most are legal, some companies are really towing the line between ‘legal and ‘not legal. Watch out for companies who charge a “membership fee” or have a substantial charge for late fees.

    Credit Cards are a great concept but they end up bringing financial ruin to many people because they do not use them properly.Too many people get a credit card and then find that it is maxed out within twelve months. Then for the rest of its existence they end up paying off interest and barely making a dent in the principal. This is not a good way to manage your money.As the conclusion,,it is not the problems to use the credit cads in your daily life but we need to remember that never used the credit card as extra money.Always allocate money from your current funds or monthly income in order to pay whatever your finance off immediately.

    ReplyDelete
  96. NUR ZATUL AIZA BT SAID @ SAID
    BCET
    10B05009
    Assalamualaikum and good morning to all..
    This is my first time join miss Sara`s blog...
    I think the topic is so interesting and important to young adults like me..

    Before we used the credit card,we need to think first are we really need to use the credit card or just to follow the trend??
    We need to remember that using the credit card have its own pro and cons..

    Firstly,,let me share some information about the credit card..what`s the credit card??Credit card is the small plastic card may be used repeatedly used to borrow the money,or buy product or services on credit.It was issued by a banks, saving and loans,retail stores and other business as the system of the payment.Credit cards allow the consumer the continuing balance of debt,subject to interest being charged.
    There are some pros or advantages of using the credit card.Let’s go over some of the benefits credit cards offer.A credit card can be a great convenience and provides the safety of not dealing with cash, which is more easily lost.Credit cards are also very useful in the sense that they offer protection under the "Consumer Credit Act" and you can often get your money back in a fraudulent purchase that you would be unable to do with any other payment method.Credit cards also offer “incentive” benefits such as air miles or credit toward future purchases.Other than that,credit cards also give back a percentage of your purchases to approved charities in some cases which is a really nice way to give back at the same time you are spending the money you normally would spend. Therefore there are most certainly benefits for using a credit card.

    Credit cards still cause problems for most people especially young adults more often than they provide benefits. Most of these problems come in the form of excess consumer debt, which arises when one carries a balance on the credit card while paying the absolute minimum each month.These problems occur when one begins looking at the credit line of your credit card as simply bonus money that you now have to spend. Instead you need to allocate existing funds for every purchase you make on a credit card.This way you know that you will be paying off that principal balance at the first of next month rather than carrying for your foreseeable future.

    Another problem that happens with credit cards is that people simply get too many of them. With the credit environment as it is today most people are barraged with new credit card offers practically every day of the week. And some people accept each one of those offers and end up with more credit cards than they know what to do with. With increased numbers comes increased temptation. When you have a multitude of credit cards it becomes much easier to talk yourself into carrying a balance on one of them.You also need to be wary of signing up for credit cards. While, most are legal, some companies are really towing the line between ‘legal and ‘not legal. Watch out for companies who charge a “membership fee” or have a substantial charge for late fees.

    Credit Cards are a great concept but they end up bringing financial ruin to many people because they do not use them properly.Too many people get a credit card and then find that it is maxed out within twelve months. Then for the rest of its existence they end up paying off interest and barely making a dent in the principal. This is not a good way to manage your money.As the conclusion,,it is not the problems to use the credit cads in your daily life but we need to remember that never used the credit card as extra money.Always allocate money from your current funds or monthly income in order to pay whatever your finance off immediately.

    ReplyDelete
  97. Assalammualaikum..
    According in this topic, while it has become all too easy for some to obtain credit, there are some of us who find it problematical. Many of us are hesitant to take that first step when applying for a credit card. If we see now, neither the old nor the young people using credit cards as one of their lifestyle to buy anything even the food.
    Other cons to credit cards for youth is that young people often have little to no experience with financial obligations. More often than not, their parents, friends or other relatives have been able to help them pay for the things they want or need, such as tuition, food etc. because of that, they can be extremely useful, they are dangerous in the wrong hands. Credit cards often come with hidden costs and charges like finance charges, interest charges, over-limit fees or usage fees which young people are not aware of. This con is largely due to the lack of experience with financial obligations.
    As a conclusion, I don’t think young adult should have credit card because they are inability to repay as some of them still studying..so, study hard..don’t worries about incoming debt....hehehehe....wassalam..


    iskandar khan b abdul rahman
    09B02016
    2BMET

    ReplyDelete
  98. TENGKU AHMAD ASHRI BIN TENGKU HARUN
    2BCET
    10B05003

    Assalamuailakum, hello madam...
    This is my opinion on credit cards.

    Benefits
    For those who use credit wisely, credit cards are a great way to earn rewards (like frequent flier miles or cash back) on purchases. Consumers who pay their bills in full each month can take advantage of these rewards without ever paying interest on their purchases. Credit cards with no annual fees and low interest rates are available to consumers with good credit scores, often with introductory rates like 0% interest for a year. That equates to an interest-free loan from the credit card company, which allows savvy consumers to let their money continue to earn interest while they use the credit card company's money for a year. Additionally, many people dislike carrying cash or a checkbook, so credit cards are a convenient alternative.

    Considerations
    Unfortunately, credit cards allow irresponsible consumers to get in over their heads by purchasing things on credit that they cannot afford. Consumers with poor credit scores end up paying exorbitant interest rates on their purchases, meaning that a $10 purchase could end up costing them $20, $30 or even more over the long haul. Also, credit card companies charge high fees for late payments, missed payments and payments that don't meet the minimum payment requirement, causing consumers to rack up even more debt.

    ReplyDelete
  99. Mohd Khairul Hafis B Omar
    09B02017
    2BMET

    Assalamualikum..
    Topic for this week is about credit card.
    That is very great topic must be discuses. For my opinion credit card have many advantages and their disadvantages by using a credit card .Now days credit card is very important for some people and also not important to other people. I said that because many people like to shopping and travelling. So credit card is very important for them because they doesn’t need to bring lot of money go to shopping or travelling. Just a credit card they can archive their passion. For other advantage and disadvantage using credit card shows below.
    The advantages of credit cards
    There are lot of advantages credit cards have. The major advantage of credit cards is that they permit people to make large purchases, such as expensive semester textbooks or those for cars. Also, credit cards can help for emergencies like medical bills caused by accidents. A responsible repayment of credit cards would permit the card holders to fit into middle class American life and, the same time to develop quality spending habits. Additionally, adolescents may develop a basic moral code and stronger ethics while putting face to face credit cards and the societal rules for delayed gratification.
    The disadvantages of credit cards
    While parents offer credit cards to their children who have not totally learned how to delay gratification, the American society induce to their consumers the tendency to buy excessively without paying attention whether they will be able or not to pay the debt accumulated when purchasing with credit cards. In turn, this make lot of Americans to increase in debt and finally to be unable to repay, causing problems with the economic balance and with personal credit too.
    The real problem with credit cards is that the owed amounts must be paid back, this way the higher costs accumulated since the initial purchase could be avoided as well as the high interest rates of credit cards.
    As a conclusion, credit cards could be considered the best friends as long as they are used in a right manner and the payments are made without getting in debt.
    That all my opinions about using credit card. Thank you

    ReplyDelete
  100. assalamualaikum...

    in my opinion,having a credit card can be good and bad for teenagers..firstly because as a teenager, there are so much things that they desire tu buy even though they dont have that much money..so credit card will encourage them to spend a lot even they dont have money..besides, how are they going to control the flow of their money by spending all the time like it is a free money..nowdays the teenagers is teh target for the credit card company because they like to spend more than adults..at the end they will have to pay a lot of debts..
    In the positive way, credit cards is another safety way to bring a money instead of cash..there so many case of handbag snatching now so it will be safer to use a credit card..Furthurmore,for students,there is a discount for purchasing..so they can save a bit of money..credit card is also useful when there is an emergency..if they were used properly,it will bring more advantages than disadvantages..


    -siti mariam-
    -2bmet-

    ReplyDelete
  101. SHARIFAH AIMI SAKINAH BT SYED MAZLAN AFANDI
    10B02071
    2BMET

    Assalamualaikum and salam ramadhan..

    When someone have own credit card it can be very liberating. There are many reasons that people give on why they want to own one credit card. Applying for it before was very hard. Owning this credit card makes people think that the owner is rich and powerful. This credit cards act as a status symbol as well. Applying for it nowadays has been made much easier than before. Someone can get more than one credit card even if they are currently earning at minimum wage. Even applying for a credit limit upgrade has also been made easier. Because of how easy it is to get a credit card, people's life has been much easier for some, and way much harder for some.
    Some of the pros of having it are no need to bring around a bulky wallet full of cash every time you wish to purchase something. A part from that is if you lose your card, all you need to do is report it and the one who found your card would not be able to use it for any transactions anymore. In addition for this problem is don't need to worry about not carrying enough cash because you can use your card at almost any transactions that accepts credit cards and also can monitor your expenses monthly because your monthly bill gives you a breakdown. However, credit card also can take part in deferred payment methods as an option offered by several shops and can partake of the rebate programs and other promotions offered by different types of credit cards. Some offers travel rewards, gas rewards, and many other promotions.
    On the contrary of the problems, there are a lot more benefits with credit cards such as having a credit card makes you feel that you could buy anything around your limit. With credit card, you can use it to payment bills and shopping. That’s why it is important nowadays.

    ReplyDelete
  102. MOHD AMIR BIN DAUD
    10B06004
    2BPET

    Saving for retirement is important at all ages. However, most individuals begin to undertake serious money management responsibilities after leaving their parents to be on their own. This is a critical period in financial planning for young adults, as their spending and savings habits help to set the financial foundation for their retirement years. In this article, we review some of the financial habits that can affect a young adult's ability to save for retirement

    College students are usually bombarded with tons of offers for credit cards from credit card companies. Some inexperienced credit-card holders may see this as a way to buy what's in style or even to pay for simple necessities. However, while having a credit card can be a necessary convenience, college students must consider the pros and cons when presented with offers to apply for new credit cards or offers to increase spending limits for existing credit cards.

    As noted earlier, your credit rating affects your ability to obtain credit and may even determine the interest rate at which credit can be obtained. As such, improper use of credit cards can result in lower credit ratings, which can eventually translate into either inability to obtain additional credit, or higher interest rates charged on loans. Improper use includes making payments after the due date (late payments) or exceeding the credit limit established by the credit card. The following is an example of how poor credit ratings can affect retirement savings.

    ReplyDelete
  103. MOHD HANIF BIN BUREDAH
    10B02041
    2 BMET


    Assalamualakum w.b.t...


    Nowadays,life is being more easier with the using of credit card.just only by using a credit card,peoples can pay anything that they buy systematically.

    Not only adults,nowadays, young adults also having credit cards.Theres some advantages having credit cards for young adults especially for the students in the university.With the uses of credit cards,they don't need to bring a lot of money with them.Not only that,they also dont need to go to the bank to take the money.Only by using credit cards, they can pay anything easily.Having a credit cards also make the process of paying something more efficient and safe.

    But in my opinion,for some situation,young adults should not have a credit card.Basicly,young adults still dont know how to manage their money properly.With the uses of credit cards,they will waste their money for something that they dont need.They also cannot differentiate between their need and their desire.They dont know how much money they having in the bank.

    At last,they dont have any saving more in the bank.Having credit cards also make young adults waste their money in the bank.They will easily use the money without thinking how much money that is in the bank.

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  104. This comment has been removed by the author.

    ReplyDelete
  105. KHAIRUL AZIZI BAHRI BIN KAMARUDDIDIN
    10B02033
    2 BMET

    Assalamualaikum w.b.t


    Credit Card is an Automatic advanced card, when you used it, you can get the goods you bought without paying for it yet. Credit cards are a widely used source of convenient credit for restaurants, hotels and more. There are many advantages and disadvantages of using credit cards.

    Advantage using a credit card.
    1. We are able to purchase the items without worrying about our bank balance.
    2. The person does not need to carry cash white going for shopping.
    3. There is a record of the purchases that we have done, when we purchase using the credit card.
    4. Credit card payment also consolidated the bills that need to be paid into a single payment. This saves a lot of time and effort.
    5.Credit cards can help coordinate receipts for tax purposes.
    6.Bookkeeping is reduced to one monthly bill as opposed to checks.

    Disadvantage using a credit card.
    1. There is an interest and finance amount charged to the card user. This causes a higher cost of the items that are purchased than it would be, if it were not purchased using a credit card.
    2. There may also be an additional fee charged by some credit card companies that is sometimes termed as transaction charges.
    3.It becomes a loan when the credit becomes due and you do not pay for it.
    4.Adding monthly interest charges means you pay more for the goods and services.

    As a conclusion, credit cards could be considered the best friends as long as they are used in a right manner and the payments are made without getting in debt.

    Thats all my opinion about credit card.
    wassalam.

    ReplyDelete
  106. This comment has been removed by the author.

    ReplyDelete
  107. MOHAMAD FAIS BIN YAHYA
    10B02039
    2 BMET

    Assalammualaikum..

    Credit Card is an Automatic advanced card, when you used it, you can get the goods you bought without paying for it yet. Credit cards are a widely used source of convenient credit for restaurants, hotels, mail order, on-line shopping, gasoline stations, grocery stores, dental and medical care, church bazaars, as well as telephone and television advertised products.for a young people, There are many advantages and disadvantages of using credit cards, but the consequences of misuse can be drastic and painful.

    Advantages
    Credit cards eliminate the need to carry large sums of cash
    If you are away from home without cash, you often can receive a cash advance or have the option of buying traveler's checks with a credit card
    Places that are suspicious of personal checks often take credit cards.
    Credit cards act as a short-term loan if you find something that is a bargain and haven't the cash or balance in your checking account to pay for it.
    If you move to a new place, credit cards give you purchasing power until you establish yourself as a good risk in a new community.
    If you charge an item or service that costs rm50 or more in 100 miles of your home or place, and later discover it doesn't work or has other problems, you can withhold payment from the credit card company if you have attempted to resolve the problem with the merchant.
    You often get the best rates of exchange when traveling in foreign countries if you use your credit card for purchases and your ATM card to get cash. Check with your card issuers about surcharges before you leave on your trip. A two to three percent surcharge may eliminate this advantage.
    Credit cards can help coordinate receipts for tax purposes.
    Bookkeeping is reduced to one monthly bill as opposed to checks.

    Disadvantages
    Some people have been swindled by giving their credit card numbers to dishonest salespeople over the phone.
    It becomes a loan when the credit becomes due and you do not pay for it.
    Adding monthly interest charges means you pay more for the goods and services.
    Consumers often have more than one credit card and each one has a credit limit. When the credit limits for all cards are added up, the total can be in the thousands of dollars. Consumers can fall into the habit of using credit cards to extend their income.
    Credit cards are easier to use than applying for loans even when a loan from a credit union, bank or other financial institution may provide the funds at a lower interest rate.
    so,in my opinion,teenagers should not have a credit card because it can make they waste they money.that all my opinion about the pros and cons of young adults having credit cards.

    ReplyDelete
  108. TENGKU MOHD AZRUL IKRAM B.KU LODING
    10B02062
    2BMET

    assalamualaikum w.b.t


    The reader has asked a very important question, and one I wish more high school and college -age readers would ask. Credit card companies solicit young adults who receive very little financial education in school (but that's another story!) and are enticed by the thought of being able to buy electronics, clothes and other goods without having to pay for them right away. All too often they don't learn that instant gratification will soon be replaced by mounting credit card bills. In our society, having a good credit history has become important. Good credit history will get you a lower rate on mortgages, car loans and other loans. Landlords often use credit scores to determine if you will be a good tenant and employers are using them to judge job applicants. So you can see that using credit cards wisely to build a good credit history can help you out. As you get older, having a poor credit history - or even no credit history - could be a disadvantage.
    Another advantage of credit cards, if used correctly, is the ability to buy goods and services and not have to pay for up to 30 days. If the entire account balance is paid off monthly, the card holder is in essence getting an interest-free loan. The disadvantages are all tied to running up charges each month that are not paid off. Balances carried forward to the next month incur interest charges that can be quite hefty, especially for young adults without much credit history. As the balance grows it can be harder and harder to pay off the monthly balance, or even make the required minimum balance.

    I think it's a good idea for young adults age 18 or older to begin using credit and learn how to manage it wisely. You only need one card to start with and charge only what you can pay off each month. It's one way to learn good financial habits.

    ReplyDelete
  109. mohamad fais bin yahya
    10B02039
    2 BMET
    assalamualaikum..
    Credit Card is an Automatic advanced card, when you used it, you can get the goods you bought without paying for it yet. Credit cards are a widely used source of convenient credit for restaurants, hotels, mail order, on-line shopping, gasoline stations, grocery stores, dental and medical care, church bazaars, as well as telephone and television advertised products.for a teenagers there are many advantages and disadvantages of using credit cards, but the consequences of misuse can be drastic and painful.
    Advantages
    Credit cards eliminate the need to carry large sums of cash
    If you are away from home without cash, you often can receive a cash advance or have the option of buying traveler's checks with a credit card
    Places that are suspicious of personal checks often take credit cards.
    Credit cards act as a short-term loan if you find something that is a bargain and haven't the cash or balance in your checking account to pay for it.
    If you move to a new place, credit cards give you purchasing power until you establish yourself as a good risk in a new community.
    If you charge an item or service that costs rm50 or more in 100 miles of your home or place, and later discover it doesn't work or has other problems, you can withhold payment from the credit card company if you have attempted to resolve the problem with the merchant.
    You often get the best rates of exchange when traveling in foreign countries if you use your credit card for purchases and your ATM card to get cash. Check with your card issuers about surcharges before you leave on your trip. A two to three percent surcharge may eliminate this advantage.
    Credit cards can help coordinate receipts for tax purposes.
    Bookkeeping is reduced to one monthly bill as opposed to checks.
    Disadvantages
    Some people have been swindled by giving their credit card numbers to dishonest salespeople over the phone.
    It becomes a loan when the credit becomes due and you do not pay for it.
    Adding monthly interest charges means you pay more for the goods and services.
    Consumers often have more than one credit card and each one has a credit limit. When the credit limits for all cards are added up, the total can be in the thousands of dollars. Consumers can fall into the habit of using credit cards to extend their income.
    Credit cards are easier to use than applying for loans even when a loan from a credit union, bank or other financial institution may provide the funds at a lower interest rate.
    that is my opinion about using a credit card among a young adult

    ReplyDelete
  110. ABDULAZIM BIN HARUN
    10B02013
    2BMET

    To buy something in the blogged or internet credit card is very important.credit also easy to use and fast.The plastic credit card with a magnetic strip many people carry in their wallets or purses is the end result of a complex banking process. Holders of a valid credit card have the authorization to purchase goods and services up to a predetermined amount, called a credit limit. The vendor receives essential credit card information from the cardholder, the bank issuing the card actually reimburses the vendor, and eventually the cardholder repays the bank through regular monthly payments. If the entire balance is not paid in full, the credit card issuer can legally charge interest fees on the unpaid portion.credit cards can help for emergencies like medical bills caused by accidents.

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  111. MOHAMAD FAIS BIN YAHYA
    2 BMET
    10B02039

    assalamualaikum...
    • Young men and women of high school or college age find the idea of getting their first credit card alluring. They feel they are old enough to be responsible, and have every intention of using their credit wisely and paying the debt back quickly. Having a credit card at a young age has some advantages, such as getting credit started and having money for emergencies or necessities. However, the cons of having a credit card at a young age outweigh the pros.
    Inability to Repay
    • While young credit card holders might have every intention of repaying their debt, repayment of that debt often becomes difficult. First, high school and college students usually don't have stable employment. Even if they hold part-time jobs, these jobs often take the back seat to school work and class time. Even after they've graduated, young people are going through a transitional period which often includes unemployment or low income employment.
    Inexperience with Financial Obligations
    • Another con to credit cards for youth is that young people often have very little to no experience with financial obligations. More often than not, their parents, friends or other relatives have been able to help them pay for the things they want or need, such as tuition, food, new clothes or entertainment. This lack of experience also brings with it a lack of foresight and understanding of money. Frugaldad.com compared credit cards and power tools: Although they can be extremely useful, they are dangerous in the wrong hands.
    Hidden Costs
    • Credit cards often come with hidden costs and charges such as finance charges, interest charges, late fees, over-limit fees or usage fees which young people are not aware of. This con is largely due to the lack of experience with financial obligations, but even more experienced consumers might see hidden costs as a con to holding credit cards. The fact is that young credit card holders typically view credit card purchases as same-as-cash purchases which they have to repay later, while ignoring many of the extra charges. According to the Columbia Missourian, it can take five years to pay off $1,000 of credit card debt, if you make the minimum payment.

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  112. This comment has been removed by the author.

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  113. IRNIYANA BT YAHAYA
    10B02040
    2BMeT

    assalamualaikum w.b.t

    As we knows, nowadays most teenagers interested having a credit card. For them, its look like a modern and load life styles. For me by having credit card more benefits; easy, save, fast compare its disadvantages; extravagant, bankrupt. (depend the way we handle it). First of all, i like give means of Credit card. It’s any card, plate or coupon that may be used repeatedly to borrow money or buy goods and services on credit.

    First, the benefit of using credit card is easy to carry or bring when going out to buy or pay something. It is just put a piece of credit card in wallet. Furthermore it save for us, especially for a women community. I says it because we know nowadays there are many cases of thievery that incriminated women. The thief interested to do so when saw people who bring a lot of money. Moreover the traveler also like to having credit card cause when they go to travel, they don’t need bring more money. A card for replacement money and they can enjoy their journey around the world. Besides that, we also can’t counter the balanced when we pay using credit card. Thats make fast to pay. it automatically calculate using their machine compare pay using money we must think how much the casher return our money back.

    The most dangers about having credit card is we will be extravagant in shopping. We just give the cashier a card for pay what we bought. For the shopholic like me, we doesn't realize how much we spend for a shopping. The end of month, we receive a statement banks that we have debt from them(teach us how to owe). If this continues happen, our name will be register a bankrupt person in young age. This really make people in stress no matter they as a teenagers or adults.

    That all my opinion about pro and con of young adults having credit card. My last word is just think before do something then you will get the benefits. Thank you and see you in next comment.
    SALAM RAMADHAN AND HAPPY FASTING…………………………………………………………………11.35pm 14/8/2010

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  114. Those who oppose of young adults having credit cards argue that young adults should be used money cash in daily live before they start to use credit card. I do not think this argument holds much water and tend to agree to those who favor young adults to do not use credit card. In my opinion, although the use of credit cards is more popular from year to year, but it still not suitable for young adults.

    Thank you miss..

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  115. Salam 1Malaysia,

    I went to Maybank to open a Maybank Islamic account just now. I just realized that, if you're opening a new account, you'll get a visa debit card automatically. No matter you're working or studying. It seems very easy to obtain a debit card nowadays. Great, need to bring a lot cash when going out. That's interesting.

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  116. CORRECTION

    Great, NO need to bring a lot cash when going out. That's interesting.

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  117. In my hand, credit card is a new way of money spent, as it nickname,'plastic money;'.i agree with miss sara. having credit card have it own pros and cons. in a easy word, everything have it own pros and cons.

    it wasn't a burden having a credit card. it will be a burden if the user burden the credit card it self. use it wisely. is it true, since we have credit card, we did not have to carry cash money in large amount to reduce risk being rob. but, the risk of usage credit card it on our own hand.

    spent our money using credit card need high discipline in our self, and the way we spent our money. it will be helpful if use it in right place, but will be big burden if use it wrong way.

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  118. MOHD HILMIE HUSSAINIE BIN MOHD HAFIZ PECK
    10B02005
    BMET
    As we know that today many of young people hae their own credit card. When young people get to the point where they are independent and are ready to start setting the own credit rating, it's important that they do so with their eyes open, so to speak. All too often the youth is so used to the parents or an adult controlling their money that once they become responsible for their own finances and debt payments it can get out of hand on them quickly.

    It's important as parents that proper credit education is given to the young ones as it is for other aspects of their life. When adulthood arrives often these young people are not able to manage the money and it can cause great devastation throughout various areas of their life.

    In order for a young one to be able to appreciate what credit is this is something that can be taught at a younger age. When this is done and they obtain the first credit cards they have some idea of control. Credit cards can get out of control quickly for individuals that are not used to new responsibilities.

    It is easy for any one that has a credit card to walk into any store and purchase whatever the like up to the maximum of what their credit card will take. It is easy to max out a card within a matter of weeks for individuals that go on a shopping spree. In no time at all the next thing these individuals have to look at is debt consolidation because not only have they run up one card but several.

    Many times individuals don't realize just how detrimental the credit cards can be to their overall credit rating. When a young adult while still single runs up their credit cards and damages their credit rating, it can leave a bad scenario when it comes time for them to go and start having a family and buying a home perhaps.

    This is why it is important that young people are taught financial management as well as credit card management and that they understand all the aspects of responsibility that comes with credit cards. In any event, if a young family member in your household runs into serious debt then suggest debt consolidation before their credit rating becomes severely affected.

    This is something that you should encourage the individuals to pursue themselves. They have to able to accept the responsibility that they have gotten themselves into some financial difficulty and now they have to find a means of restoring their credit and getting out their financial predicament.

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  119. MUHAMMAD HAFIZUDDIN BIN MOHD YUSOF
    10B02024
    2BMT

    Nowadays,young people use their own credit card.
    But,there is pros and cons.In my opinion,there is more cons than pros.When you spend with cash, you are able to physically see exactly how much your spending. When you spend with credit, it's easy to overspend because no money actually changes hands, and you don't really feel the effects of spending. It's tempting to spend more freely with a credit card since you're not actually sacrificing any of your hard-earned cash at that moment.

    If you constantly carry a balance on your credit cards and your interest rates are high, you may end up paying the credit card companies two or three times the amount of what you actually purchased. If you only make the minimum payments, the amount you actually repay could be even higher and it may take years for you to get out of debt, if at all.

    The "buy now, pay later" mentality that is associated with credit cards can lead to serious debt overload if you're not using your credit wisely. If you're continuously charging things to your credit cards and don't pay them in full each month or you find yourself opening new lines of credit because your cards are maxed out, you run the risk of a financial meltdown when you can no longer maintain payments on your mountain of debt.

    The money you're using each month to pay your credit card bills is money that could be going to building savings or advancing other financial goals. Rather than paying a credit card company exorbitant interest rates, you could be using that money to save for retirement, plan your dream vacation, or buy a home. Overusing or misusing credit cards can essentially determine the quality of your current and future lifestyle.

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  120. MOHD AZAROOL FIRDAUS BIN MOHD SABRI
    10B02025
    2BMET

    We hear a lot of negative things about credit cards and why we don’t need them. They lead to debt, credit card companies take advantage of us, the terms and conditions are unclear, and the list goes on.Here are important advantages to credit cards that make them worth keeping in your wallet.
    Credit card can help you build credit.Because credit cards are reported to credit bureaus, using a credit card can help you build a good credit history. In general, credit cards are easier to get than loans and actually help you build the good credit you need to apply for a loan in the future. When you’re ready to apply for a loan, that credit card history will give the lender assurance that you’ll repay your balance.
    Beside that's a credit card lets you pay for an item over a period of time rather than all at one time. You can delay payment for a few weeks without any cost. Or, you could repay your balance over several months or even years, but you’ll end up paying quite a bit of interest by doing so. Even so, you have the choice of delaying payment for your purchases. While there may be many reasons against using credit cards, there are also some very good reasons to use them. As long as you are responsible with credit cards, the benefits will outweigh the costs.
    In the other hand, there’s no way to send cash over the internet. If you want to buy something from an internet retailer, you have to use a credit card.
    Some things are just easier bought with a credit card such as hotel reservations, plane tickets, and car rentals. You can use a credit card for these things, but often the company has to place a hold on your funds until after the transaction has gone through. You don’t have that problem when you use a credit card.

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  121. MUHAMMAD RAHIMAN ADIBI BIN YAHYA
    10B02023
    BMT


    Nowaday, the use of credit cards is becoming more vibrant with great offers at the supermarkets and any places. As the young adults, need to make sure properly about the pros and cons of the credit cards.
    There are some of the advantages of using credit cards is when there are the problems with the economy, that’s mean the money is no longer in the bank and pocket. Besides, they do not have to carry that much cash. It’s also more safer to use credit cards compared using the cash. For the who study at the overseas, they no need to change the currency when abroad.
    However, there also the disadvantages of using credit cards because not all dealers want to receive a purchase on credit, especially ordinary shops or small shops. the major one of the disadvantage using credit cards is the possibility of excessive spending because they are not aware or concerned with the money they have spent. As we all know, business credit card is carried out with the use of computers.Therefore, there is the likelihood of fraud in the transaction. So, need to always take on eye of it.
    As a summary, concluded that there are some advantages and disadvantages of using credit cards. However, if a credit card owners to use the facility wisely, they will get a lot of interest but if not, the owner would suffer because of it.

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  122. Mohd Khudri Sai'dei Bin Marzuki
    10B02053
    BMET

    Credit cards are a great concept but they end up bringing financial ruin to many people because they do not use them properly.Too many people get a credit card and then find that it is maxed out within twelve months.Then for the rest of its existence they end up paying off interest and barely making a dent in the principal.This is not a good way to manage your money.

    However, all the things in this world that people used have their own advantages and disadvantages.Same with this credit card. The major advantages of credit cards is that they permit people to make large purchase such as car and so on. Other than that, credit cards also can help for emergencies like medical bills caused by accidents. Credit cards can make it easier to buy things. If you don't like to carry large amounts of cash with you or if a company doesn't accept cash purchases (for example most airlines, hotels, and car rental agencies), putting purchases on a credit card can make buying things easier. Credit cards may also offer you additional protection if something you have bought is lost, damaged, or stolen. Both your credit card statement (and the credit card company) can vouch for the fact that you have made a purchase if the original receipt is lost or stolen. In addition, some credit card companies offer insurance on large purchases. In addition to the benefits listed above, some credit cards offer additional benefits, such as discounts from particular stores or companies, bonuses such as free airline miles or travel discounts, and special insurances (like travel or life insurance.)While most of these benefits are meant to encourage you to charge more money on your credit card the benefits are real and can be helpful as long as you remember your spending limits. Your credit card also can help you budget expenses each month, provided you pay your bill in full every time.

    However, this credit cards also have disadvantages. The biggest disadvantage of credit cards is that they encourage people to spend money that they don't have. Most credit cards do not require you to pay off your balance each month, so even if you only have $100, you may be able to spend up to $500 or $1,000 on your credit card. While this may seem like 'free money' at the time, you will have to pay it off -- and the longer you wait, the more money you will owe since credit card companies charge you interest each month on the money you have borrowed. Other than that, credits card companies also can charge you an enormous amount of interest on each balance that you don't pay off at the end of each month. This is how they make their money and this is how most people in the United States get into debt and even bankruptcy. Consider this: If you have a $100 in savings, most banks will give you at the most 2.0 to 2.5% interest on your money over the course of the year. This means you earn $2.00 - $2.50 a year on your $100 savings. Most credit cards charge you up to 10 times that amount of interest on balances. This means that if you have $100 balance that you don't pay off, you will be charged 20-25% interest on that $100. This means that you owe almost $30 interest (plus the original $100) at the end of the year. A good way to look at this is in comparison to what you would earn in interest from a bank or owe in interest to a bank loan: Savings accounts may pay you around 2% interest; if you have a loan from a bank you may pay them around 10% interest (5 times as much as you earn off your savings); if you owe money to a credit card company, you may pay them around 20% interest (10 times as much as you earn off your savings.) Like cash, sometimes credit cards can be stolen. They may be physically stolen (if you lose your wallet) or someone may steal your credit card number (from a receipt, over the phone, or from a Web site) and use your card to rack up debts.

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  123. Mohd fazir bin rameli
    09B02014
    2BMET

    Nowadays, credit card is an important part of our live especially youth. Credit card is important because this is going to allow you to become more responsible, learn how to manage your finances, and most importantly we can control your money flow from spent too much or exceed our finances. But, there are also disadvantages from using credit card such as cannot control our daily spending, easy to buy something, and our credit with bank more increase.
    Generally, when talk about credit card, we always get mixed responses. Some people will tell the credit card is good and others side say credit card give us disadvantages. Before we go through to the advantages and disadvantages credit card to youth. Here some advantages and disadvantages
    i think i my mind.

    First, if young adults uses credit card, they can buy thing in internet online easily. Without a credit card, you’re not going to be able to buy those things online that you truly want. By now,
    You’ve probably also realized that things online are generally cheaper than items in stores. If you have a card in your wallet, you won’t have to worry about carrying around a lot of money. For example, if your wallet loses, we won’t need to worry because only owner of credit card can spent or use that credit card to purchase something.
    Besides that’s, with using credit card, we will get reward from our spending. Unlike cash, with credit cards, when you spend it, some reward credit cards will give you points. Then you will get a gift or things from redeem your points reward. Credit cards are lot safer than carrying cash.
    For the disadvantages from using credit cards, you must pay fees which charge from financial banking you registered. If you not pay, that fees will increase and you’re going to paying a lot of fees. From others side, credit cards can lead you to debt. If you spent without thinking, you may lead yourself into some serious debt.
    Finally, it is important to note that secured credit cards are just one type of secured credit. Secured credit is also used in association with the purchase of a home. Both mortgages and home equity lines of credit are secured with real estate. If timely payments are not made, foreclosure can occur and the home will be seized by the lender to repay the outstanding debt. So, we must think carefully before we use credit cards especially young adults.

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