Most Americans Should Not Use Crdit Cards

While credit card debt plagues millions of Americans, just as many thrive on the flexibility and ease of paying with credit. Obviously, the magic of the little plastic card is not right for everyone. For some, having a bad credit standing is a nightmare. You will wake up one day and your opportunities for a better living are gone. The number of Americans carrying credit card debt has been steadily increasing in recent years. Many Americans are paying or loosing more money with credit cards then what they were given in the first place. In addition, people are beginning to rack up credit card debt on more than one account and are holding higher amounts on each. For many people, this rotating credit card debt has become a serious problem. Everyday, many banks and other credit-lending institutions process a number of loan requests. Whether it is for an auto loan, housing loan, or a loan in some other form, a great deal of their resources is being spent before such applications are to be approved. In this situation, I say to own or not to own—that is the real credit card question.

Perhaps, the biggest pro or plus side to owning a credit card is ease of use. It is no secret that credit cards are easy to use. Many retailers are simplifying the process of paying for purchases with a credit card. What does this mean for you? It means that credit cards are becoming even easier to use. In keeping with ease of use, you will find another pro to having a credit card. That pro is the ability to shop online. In recent years, the popularity of online shopping has, literally, skyrocketed. It is also important to mention the protection that you receive. In the event that your credit card become lost or stolen, you should not find yourself responsible for any illegally made purchases. With that in mind, it is first important to fully review each credit card application you complete. Most credit card companies have rules and restrictions, concerning theft protection. These rules...