Use Of Credit Cards
The use of credit cards is much more dangerous than use of checks or cash. Paying with cash is very easy; for knowing how
much money is available and how much can be spent makes it very hard to get into debt. When paying with a check the process
is a bit trickier; the exact balance has to be kept on the account at all time. Knowing what this balance is and continuously
replenishing it can be quite hard. Nevertheless, even with a check consumers can not get into a lot of trouble. If more
money is spent then the shopper has on the current account, the last written check will be rejected and account will be
suspended until the balance is paid off. With credit cards however, every year more and more people get into debt.
According to American Bankers Association (ABA), Americans owe more then $387 billion on their credit cards. This frightening
number, averaging about $3,900 per family, is just as bad for the economy as it is for the consumers. In September of 1995,
for......
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