Most Americans should not use credit cards, because of the financial situation that our country is going through. Did you know that, According to www.Creditcard.com, the average household credit card debt is $14,750, and that the U.S revolving credit card debt, which is made up of solely credit cards, is $796.5 billion dollars?
That just seems so unreal to me. I know that most of society is in some sort of financial crisis, but I didn’t actually realize how much money was invested in to credit cards alone by Americans. To me, that is a startling fact. I can say that I make a part of that total money sum that was averaged. When I first graduated from high school, I was so excited to be 18 years old, because of many different reasons, but to have my own credit card, was one of them. I applied for my first credit card, and then quickly got approved for a couple more credit cards. I worked at 24 hour fitness, and went to school full time, so I didn’t really make too much money. At the time, credit cards were awesome to me. I didn’t know much about them, except for the fact that when I didn’t have the cash on the spot, that I could use my credit card, and pay it back later. The thing that went unnoticed and got me in to some trouble, was not knowing how long I had to pay off my credit card before racking up a ridiculous amount of interest, and paying almost double of what I spent when I didn’t have cash to pay right away. I learned the hard way, and I am still paying for that. When I try to purchase another car, or even buy a house, it can cause me to not be able to be approved for abusing my credit as a young woman.
In order to get a house, car, or even to get any kind of loan these days, you have to have a pretty decent credit score, and proof of a sufficient job. I can give you an example of what could happen to you if you have a low credit score, because I personally have experienced it. When my husband and I first got married, we tried to buy a house, and I... [continues]
That just seems so unreal to me. I know that most of society is in some sort of financial crisis, but I didn’t actually realize how much money was invested in to credit cards alone by Americans. To me, that is a startling fact. I can say that I make a part of that total money sum that was averaged. When I first graduated from high school, I was so excited to be 18 years old, because of many different reasons, but to have my own credit card, was one of them. I applied for my first credit card, and then quickly got approved for a couple more credit cards. I worked at 24 hour fitness, and went to school full time, so I didn’t really make too much money. At the time, credit cards were awesome to me. I didn’t know much about them, except for the fact that when I didn’t have the cash on the spot, that I could use my credit card, and pay it back later. The thing that went unnoticed and got me in to some trouble, was not knowing how long I had to pay off my credit card before racking up a ridiculous amount of interest, and paying almost double of what I spent when I didn’t have cash to pay right away. I learned the hard way, and I am still paying for that. When I try to purchase another car, or even buy a house, it can cause me to not be able to be approved for abusing my credit as a young woman.
In order to get a house, car, or even to get any kind of loan these days, you have to have a pretty decent credit score, and proof of a sufficient job. I can give you an example of what could happen to you if you have a low credit score, because I personally have experienced it. When my husband and I first got married, we tried to buy a house, and I... [continues]
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