Experts Reveal How Credit Cards Changed People’s Relationship With Money

(Newswire.net — April 18, 2017) Tallahassee, FL — Credit cards are perceived by the many to be a tool in making financial transactions fast and easy. It has made a lot of changes not just in the way people pay goods and services but also how they spend their funds.

Experts reveal how credit cards changed people relationship with money. Around fifty years ago, the first credit cards were issued by Barclaycard in the United Kingdom.

According to Liz Hodgkinsion, a writer, she really did not know what credit cards were when they arrived.

There were 1.25 million plastic cards provided to Barclays customers since 1966. There are those who sent the cards back while others never really used them.

According to Barclays, the cards were issued to the best of their customers. Its purpose is to decrease the use of cash in shopping and other financial transactions.

It is also important to note that the scheme is designed to attract not only the traveling population and those who spend a serious deal of money in restaurants, but also the everyday shoppers.

The card offers benefits to both retailers and businesses since it could reduce or eliminate the need for book-keeping to maintain the customer’s credit accounts. Many cardholders see the advantages of using their credit cards and even think these cards made them feel special.

According to the UK Cards Association, younger people tend to embrace new technologies such as mobile payments and contactless cards.

While many people gladly use their credit cards nowadays for their convenience and enjoy rewards or cashback, they pay their balance in full every month to avoid charges.

It is important to remember that many credit card holders have succumbed to a financial embarrassment due to the misuse of their cards. It can be actually quite easy to overspend since all consumers have to do is hand their cards to the shop assistants.

Credit cards also do not let consumers take a look at how much money they have on their wallet and whether or not it is wise to spend. These are plain credit cards, which can consummate business transactions in a swipe.

Today, consumers are not only worried about overspending but also being susceptible to identity thieves. These thieves steal personal and business information from credit and debit cards.

The good news is that there are tools such as the RFID blocking sleeves that could help protect credit cards. Many credit cards holders even claim that these sleeves have helped them secure their cards wherever they go.

The RFID blocking sleeves can be purchased at amazon.com (http:www.amazon.com/RFID-Blocking-Sleeves-Protector-Protection/dp/B0150T0AI2/).