American's Should Not Use Credit Cards Essay

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American's Should Not Use Credit Cards

American's Should Not Use Credit Cards
Comp/172
April 25, 2011
Darrell D Hayley, M.DIV.

American's Should Not Use Credit Cards
Most people that live in the United States today have a credit card. It is actually very rare that an American does not own at least one credit card. Credit card companies make sure that you learn about credit cards at a young age, of course, they market them as a magical card that allows you to buy whatever you want and need. Most purchases in malls or in stores are made with these magical cards. Americans are oblivious to the fact that you actually have to pay all the money you used back plus interest. Americans shouldn’t use credit cards because they will buy things they don’t need, use money they don’t have, and ruin their credit.
American’s love to spend money and buy things they don’t need. Of course, their checking accounts and income limits them to what they can and cannot buy. This is why many American’s apply for credit cards, because they want to be able to buy more things, things they probably don’t need. American’s can handle having such a card in their hands, granted there are a few but usually they will run wild. They will even buy things that they won’t have enough money to pay back.
In many cases Americans start spending money they won’t and probably won’t ever have with all the bills they already pay. According to My Budget 360, the average American Family makes less than $39,999 a year (Anonymous, 2010 December). With an income this low there is hardly enough money left for them to pay all of their credit card bills. When American’s start to consume they won’t use they will have a surplus of items that are useless and an even bigger deficit of money. They will just end up having to pay more than what they originally spent.
If a person gets to the point where they cannot pay their credit card bills any longer, their credit score will suffer greatly. Some people stop paying their credit cards and their credit gets completely ruined. A bad credit score means people won’t qualify to buy or lease cars or even buy a house. It might be hard to maintain a good credit score but if Americans would be more careful in using credit cards keeping a credit score in good shape might get easier. Americans need to start to read through the contract and fine print when signing up for a credit card. Some credit card companies have hidden charges that might…