Credit cards should not be used by most Americans because it can cause financial issues, family problems, and stress. II.
Credit card cause financial issues.
The mishandling of credit cards can cause serious financial problems due to the illusion of buying everything that people want and not necessarily what they need. 1.
According to Scott (2007), “Credit cards allow many people the ability to reach what, in their minds, equate to living in the next higher class level” (p. 570). •
This kind of negligent behavior can damage their credit scores. •
If the credit scores are too low, people could end up paying higher interest rates, and lose the ability to obtain other credit cards with better financial options. III.
III. Credit cards cause family problems
Most American families have depended on credit cards to manage their budgets because banks and credit card issuers had given them indiscriminately credit cards to almost everyone without checking their credit scores and source of income.
Gave people the illusion of living a better life style, until they were unable to afford the monthly payments because they exceeded their credit limit
Struggling to pay for their basic minimum expenses causes problems which can lead to couple’s filing for a divorce, relocating to a new house, finding a new job, etc.
IV. Credit cards cause stress
Many American that suffer from financial stress is caused by their credit cards debt. Trying to have the necessary funds to make the minimum credit cards payments is an alarming nightmare.
If people miss the due date of their payment, they will be charged with an expensive late charge fees, and their interest rate can increase drastically, making it more difficult for them to pay off the card bills.
According to Gunther (2009), “Unwise use of credit can bring short- term satisfaction, but often results in long- term regret” (Vol. 39 Issue 21, p7).
Nowadays, with the uncertainty of...
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