Cash Versus Credit Cards Essay examples

1143 WordsMar 2, 20115 Pages
Cash versus Credit Cards Americans should handle their credit cards responsibly and should not become a part of that number of abusers. The Scott III (1999) website “The average Americans household has eight credit cards, which are used to charge almost $2 trillion in goods and services annually.” No one wants to be a part of the group of individuals who he or she can put his or herself at risk for acquiring a negative credit score, possible job rejections, rejections when trying to rent or lease a vehicle or property, possible marital and family problems, health problems, or higher car insurance or denial of insurance. The misuse of credit cards is causing credit card debt to spread more rapidly every day. Today’s society makes it…show more content…
Although credit cards can be quite useful, Americans should use them responsibly. If Americans see their credit card balance decreasing to a lower balance or to a zero balance, then they are considered responsible users. Although some Americans use credit cards responsibly, some have become careless in their spending causing an increased amount of debt. The misuse of credit cards has a negative effect on many American households. Bragg (2010), " According to Bragg (2009) “According to the Nilson Report, a credit industry newsletter, the average American household has $8,329 in credit card debt” (para. 1). Richardson (1999-2010), “As of January 2008, the percentage of credit card accounts that were 30 days past due or more was 4.18 percent in the fourth quarter of 2007, according to the American Bankers Associated” (Effects, para. 3). When Americans realize they are credit card abusers and they determine that they are in need of some help with managing their credit card account (s), they tend to seek professional help from outside agencies for a fee such as, debt consolidation services and consumer credit counseling services. These companies that help individuals reduce their debt if it grows out of control. Taylor (2010), "If you're in over your head with credit card help, there are many free sources you can turn to for help with your debt. No one can make
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