http://www.multidox.net An online Nigerian forum en http://www.multidox.net/nigeria/4/1/messages/66.htmlBy Olisaemeka in Nigeria - January 02, 2010 at 08:11:49. Credit cards are very useful in making payments for goods or services quickly without resorting to cash. There are couple of reasons why credit cards are advantageous when compared to cash. They are safer, more portable and a widely accepted means of exchange. Due to the increasing growth of the internet, the use of credit cards has skyrocketed. Credit cards come under various brands in Nigeria but under two main names which are ; Mastercard and Visa. However due to the increasing liquidity squeeze and the failure of strategic financial institutions not forgetting institutional frauds, lowering credit profiles, credit cards are becoming less attractive as they once were, although this seem to be negligent due to the increasing success of online web purchases. The truth is that using credit cards are more expensive when compared to good old cash. The use of credit cards offers you no ability to bargain for goods offered online and when you equally compare the numerous charges and expenses associated with keeping a credit card account, either from set up fees, service charges, transaction charges, charge-backs and so on, you find out that using cash and getting a better bargain when possible, could save you a lot of money. To the lot of people who have had bad experiences with such cards; Credit cards are blood suckers. Avoid them if and when you can. They are no longer the customer's favourite when it comes to choosing between cash and cards, especially in this economic depression. When you do an audit of your credit card history, you may find out that you end up spending more using cards than if you had used traditional cash. Credit cards are good but most merchants now would prefer if customers pay them cash now than by credit card which would not bring instant cash immediately and so they usually offer good bargains for their cash paying customers. The truth is that, if you can avoid using credit cards, just do it. If you still need a credit card for that important transaction, you can get one from banks close to you or through your agent.