Why Most American Should Not Use Credit Cards

Most Americans Should Not Use Credit Cards In, 2003 the intent of trust card game recorded a landmark achievement as the Americans consumers who paid for their goods and services with the electronic payment exceed those who utilize the check payment system for the first time in the history of payment systems (Federal Reserve, 2004). The e-payments ar usually done with recognition cards signaling the beginning of the increase in the use of impute cards. It is no doubt that the use of credit rating cards have eased the rate in which people adjudge goods and services, but the fact remains that the use of credit cards have done more damage to the finances of Americans credit card users than good. Credit Cards have become a problem for most Americans credit card users and there ar even cases that students commit suicide because of heavy debts they owe the credit card companies (Manning, 2000). A question then comes to mind; should Americans act up using credit cards? The answer is definitely no as the detriment that comes with using credit cards outweighs the benefits. at that place are several reasons that credit cards should not be used by Americans, and some of the reasons shall be highlighted and discussed in this paper. First, the charges by most of the credit card companies are rather exorbitant.

by from that these credit card companies charge their customers on the use and withdrawals of coin with the cards, the credit card companies also charge their customers on keep and other charges, even when these cards have not been used. The patch with these charges has made it very difficult for the average American to moderate a credit card, especially the low-income earners. The interest rate aerated for credit card acquisitions is the highest when compared to other payment systems as it blush wine to an annual rate of 13.72% in 2003 (Federal Reserve System, 2004). There are cases when Americans have been made to pay through their nose because of recur charges of the... If you want to get a full essay, order it on our website: Orderessay

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