Dangers of Credit
When you get a credit card you would feel as if spending
money is painless and easy. Using cash will cause you to
think because it would disappear for every, making it more
of a harder thing to do. Making credit cards easier to spend
money on causing people to go into debit.
How do people go into
Credit card organizations don 't just give people money
because they want to be nice. Those companies count
on people being forgetful or not responsible causing
them to be late or not being able to pay off their debit.
if you are late or it 's just the matter that you don 't have
enough money to pay it off that month, then you will
have to pay a fee. On top of that free their will be
interest. So then you will have to end up paying more
from what you actually owe. They do not care if you go
under a spiral of debit, it 's just a game to them , and the
companies are the ones getting rich.
How can I prevent debt?
Since companies want people to fall
under debit. Try to not be that
person. Be that person who pays
their money they owe every month.
Don 't buy food or things under 10
dollars with it. Create a budget ,
which shows you where and how much many you can spend.
Finally , when you are buying something with your credit
card ask yourself can I come up with that money soon,
What is Credit?
Basically credit is the amount of money someone such
as a lender will risk to help you get money. You aren 't
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Credit cards have become increasingly popular world-wide, making it easier to buy now and pay later but are they actually helping or hindering someone’s credit? “Maxed Out” by James D. Scurlock demonstrates how credit cards can hurt someone’s credit, while “Why Won’t Anyone give Me a Credit Card” by Kevin O’Donnell demonstrates how someone may have financial stability to pay off a credit card, but still be consistently denied one by the credit card companies. Owning credit cards is not the problem; the problem is being irresponsible with it.
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I the article, “The Credit Card Company Made Me Do It!” -The Credit Card Industry’s Role in Causing Student Debt” by Carlos Macias. What Carlos writes about is how much College students go in debt when they use credit cards. He talks about how credit card companies prey on students who are in college because they don’t know what how to handle a credit card. He wrote in the article, that the industry makes billions of dollars in profits, and many students are drawn in by the advertising credit card companies use to make college students feel like its easy for anyone to own a credit card. He even said students may even feel pressure from family, peers, and themselves to be responsible adults and try not to live off their parents. Carlos also
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Credit cards are important financial instruments and they are often employed these days to fulfill the needs of financing important needs and requirements. People often use credit cards to buy necessary items as well as achieving access to luxurious ones that they cannot afford with their current savings. There are many things about credit cards that you may not have been aware of. Here, we inform you about the six things that you did not know about credit cards.
Ever since a consumer could purchase goods or services with a plastic card, there has been complications. Credit cards have a few positives, but the risks heavily outweigh the good. Americans owe a combined 12 trillion dollars’ worth of credit card debt (John Oliver, 2016). The average household in the United Sates owes around $5,700 (valuepenguin.com). Debt should not be something new for American consumers since they already deal with student loan, automobile, and mortgage debt. Since credit card debt is so prevalent, debt buyers and other loan rewarding companies have become a mean for paying off debt for some consumers. The Federal Trade Commission only provides information regarding debt and also strategies on how to pay off debt. The government only has a few programs that helps a particular group help combat debt. Many American consumers can only turn to themselves, debt buyers, and various agencies to help erase the burdens credit card debt.
The stories of people’s lives ruined because of either ignoring or poorly managing their debt is common and are heart breaking. I did not know about this reality until I took Financial Management, and I know to use them not for recreational uses, but for emergencies. Have a relative that needs an operation? Use a credit card to pay it off quick, but remember to pay as much as possible for the monthly plan or else you will be paying more than you spent. Being careful is not a prominent trait for most teenagers. It is the stage of life where they want to experiment and try anything without thinking of the consequences, like impulse buying. Just knowing the possible outcomes for using a credit card would prevent some people from ruining their life from credit card
Beautiful home, luxury cars, two and half kids; this is what people feel life should be. Well for most, they will never experience this because of bad credit. Credit is what allows most middle class and lower class families to afford nice things. It allows you to make purchases for large items with affordable monthly payments over a specified time. Of course income is an important part of the credit allowed per household. If you only make $25,000.00 a year, you might not get a Mercedes C-Class but more like a Ford Focus. There is absolutely nothing wrong with a Ford Focus, it’s all about getting what you can afford. Then there are those who make twice that amount and still can’t get anything other than a Ford Focus. Those are the people who have abused their credit and now are in the “rebuilding” stage. Let’s go over some tips to prevent you from having to restore but make wise choices so that you have a prosperous future.
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One day you get up and do your normal routine. You let the dog out to do his business, you brush your teeth, brush your hair and get dressed. You let the dog in and walk into your kitchen. You feed the dog then make yourself something for breakfast. The dog lays on the couch without eating. Not thinking anything of it, you watch TV and throw a load of laundry in the washer. Noon comes around and still the dog is just lying there, sleeping. You check the bowl of food and notice it hasn’t been touched. You wonder why but disregard concern for the time being. You run errands in town then return home to the dog that still hasn’t moved or eaten a bite. It’s now 4pm and concern kicks in! The dog jumps up for the first time today, but not to eat. Instead he runs over toward the door and throws up. At this point you have no doubt something is wrong. You rush the dog into the veterinarian hospital to get him checked. Only after being there a few moments long you’re told the dog has the Parvo Virus! The first thought when discussing how to save the dog’s life is “I’ll do whatever it takes”. You’re second thought is money! The amount of money to save his life is more then you have in the bank. What are going to do? Little did you know there is a solution! It’s called Care Credit and it will cover all expenses, all you have to do is pay it back in small payments until paid in full. At the time yes this sounds like the perfect solution but what you’re not told is
Firstly, not using credit card is the utmost issue which needs avoiding in order to be rich in the future. As regards credit cards, there are billions of people using it around the world. The purpose of credit card is for convenience, that the owner of the credit card can spend money at any time without handing cashes, which attract many thieves and criminals in busy places. Furthermore, it is not necessary for the credit cards owners to have actual budgets of money to purchase goods and services, for they can borrow loan through the card and pay the lender later. In my opinion, I think it is very good to fulfill my wants immediately before having enough money to afford it, yet in return for the comforts which a credit card fetches me, I have accumulated a fortune of debts. The debt may be dismal, thus extraneous to raise the credit
One of the first rules in using a card is to use credit instead of debit. What people don't know is that credit cards offer a higher consumer protection against fraud. What makes it better is that many of them come with zero-liability
Money is a necessity in life and is a constant worry for college students especially when you take out a $10,000 loan. Financial aid has replaced studying as the biggest worry for college students. The objective of college is to learn and grow as a person, but is limited by financial capabilities which is a big problem for the U.S. education system and prices continue to go up. Main focus is having to focus on rigorous studying, students may also have to work to stay in school. A student is paying college through a $10,000 loan and working a part time job 20 hours a week. John wonders if getting a credit card will help him financially. The best solution is to attain a credit card that has student benefits included and will make it easier to protect and keep track of your money.