Credit Cards An American Way of Life Credit cards are quickly becoming a major problem for the American people. It is so easy to get into debt with a credit card, and anyone with a mailbox and a pulse can get one. Many Americans can't get out of debt and they run into credit problems; some even file for bankruptcy. The reason it is so easy to use a credit card is that when you use plastic instead of cash, you spend more because you don't emotionally register the pain. If you lay down $50 at lunch, you'll notice if it's a $50 bill. With a credit card, you don't even realize what you paid. The typical American carries five to seven credit cards with an average balance of $1,670 per card (People weekly). Banks are pushing the credit card to consumers in an effort to make money on the interest rates and various fees that can be charged. Since the early 1990's, banks have up....

Number Of Pages: 9

Number Of Words: 2296

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