Credit Cards Essay

728 words - 3 pages

Luchsinger 1
Michael Luchsinger
Professor Anderson
English 112
20 January 2013
Paper or Plastic?
In modern times, it’s easy to see how technology has created comfort and convenience in everyday life. For example, credit cards, in particular, give consumers the ability to purchase goods or services with little effort. Simply by making a phone call or opening a laptop, a product can be bought and even shipped to the front door just by entering those little raised numbers on the front of the card; just ask my friend Emily! She ordered an enormous new 70in. flat screen TV, without even needing to go into a store. The funny thing is she doesn’t watch or own a TV. Not only did the ...view middle of the document...

Next, overspending, especially with younger card holders, can cause serious problems with credit and debt. Without realizing it, consumers can pay a bill or buy something that they don’t have room for in their budget; and even with the intent of paying it back, somewhere along the line, they either forget or just postpone the payment, only compounding the problem. Many consumers tend to do this at an early age for years, resulting in a huge amount of acquired debt that they have to pay off later in life. For example, a friend of mine experienced this after she maxed out her credit card in college and was stuck paying back almost double the amount she barrowed after graduation. Consequently, when consumers can actually sustain the type of spending that they had grown accustomed to, they’re stuck paying back all of the debt acquired over the years, plus interest. Some people just can’t handle that type of responsibility, or restraint, and something needs to be done to protect their interests.
Finally, to add to the debt already acquired, high credit card interest rates only make matters worse for consumers. For...

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