Credit card, it self means a card which would give you a credit, i.e. you have a card from a bank who would give you a credit as per your limit, provided you return back money on time, or else face 24 to 36% interest per annum.
Credit card - who is the audience:-
People who have high purchasing power and could return back I f not on time but within there limits
Who knows what is there limit, irrespective of the limits provided by banks
Guys who know how to cycle money, good with accounts book. one credit to another and later final debit or broken debit
Frequent travelers who cannot afford to carry cash, provided they enter A or B class cities in India.
Credit Card - what it is?-
A card that gives you respect in the society(at least during client meetings / dating / casual parties)
Cash - instant cash and a power to buy anything. from napkins to any thing, that depends how far that card could stretch
Loyalty with the bank and good credit rating(provided you use it)
What else a space in wallet and less cash!
Credit Cards - is it luxury or necessity?
Necessity:- Depends, a frequent traveler would appreciate a credit card, to buy tickets, room’s in hotels etc.
Luxury: - for those who use it and throw it and not traceable(it’s common in India)
Credit Card - Advantage
High and good credit rating among banks, which helps you to get loans from market / bank
Minimum cash deposit in wallet
Access to online purchase / payments
Instant cash access
Certain additional benefits to Gold card and Dinner club users
Apart from the points mentioned above I believe credit card no longer in India is a luxury, rather is a necessity now, as one could keep track of the expenses done, like shopping, petrol etc etc, and could either pay in full or installments and if installments pinches, could convert it in the personal loans, a feature which is provided by major credit card companies in India.
Anyways I am waiting for the comments.
Wish you all success ahead.
Cheers
Zeeshan