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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(2011, 05). Why Most Americans Shouldnt Use Credit Cards. StudyMode.com. Retrieved 05, 2011, from http://www.studymode.com/essays/Why-Most-Americans-Shouldnt-Use-Credit-705102.html
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