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Monday, April 14, 2008

3. An assessment regarding the benefits and drawbacks of the new technology


The benefits of the credit card are: they are much simpler to use instead of using and carrying around cash all the time. You just need your little piece of plastic. They are good for when you don’t have enough cash to buy an object that you want. They are also good for identification.
However this is also a problem. Credit cards make it so easy for people to use your (financial) identity and use your money without you even knowing which is a very serious issue. Another drawback is when your bill comes at the end of the month and you don’t have enough money to pay it. In this case, the bank would come and take things from you, such as furniture or electronics that would make up for the unpaid bill.

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