Cash Versus Credit Cards

Topics: Debt, Credit, Credit card Pages: 3 (1137 words) Published: March 14, 2011
Cash versus Credit Cards
Americans should handle their credit cards responsibly and should not become a part of that number of abusers. The Scott III (1999) website “The average Americans household has eight credit cards, which are used to charge almost $2 trillion in goods and services annually.” No one wants to be a part of the group of individuals who he or she can put his or herself at risk for acquiring a negative credit score, possible job rejections, rejections when trying to rent or lease a vehicle or property, possible marital and family problems, health problems, or higher car insurance or denial of insurance. The misuse of credit cards is causing credit card debt to spread more rapidly every day. Today’s society makes it almost impossible to go without using a credit card in some way or another. Renting movies, renting a car, reserving a hotel room, and booking airline tickets are some examples of purchases that require a credit card. Although this may be true, credit card users still must think very responsibly and not fall into the deadly hands of the credit card monster. Even though some Americans are responsible credit card users, those that tend to overspend should not use credit cards.

Credit cards can be seen as a convenient piece of plastic that some Americans rely on for purchasing necessary and unnecessary items. Using them can most certainly simplify their lives if they do not have cash readily available when needed. Credit card users can benefit from using credit cards in many ways. Some benefits are reserving a vehicle and keeping a track record of expenses that appears on bank statements. When reserving a vehicle, the representative will allow a person to reserve the vehicle with a credit card, although at the time when the vehicle is returned, the representative will allow a person to pay with cash, but a credit card is needed to hold the reservation. Expenses can be budgeted each month with a credit card and an individual can...

References: Scott III, R. H. (1999). Credit card use and abuse: a Veblenian analysis.. Retrieved from
Taylor, Phil (2010). 15 Things You Shouldn 't Be Paying For. Retrieved from
Richardson, M. (1999-2010). What is credit card abuse?. Retrieved from
Bragg, J. (2010). Digging out from $80,000 in debt. CNN Living. Retrieved from
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Cash Versus Credit Card Essay
  • Cash Versus Credit Essay
  • Credit Cards vs Cash Essay
  • Cash vs Credit Cards Essay
  • Cash Versus Credit Essay
  • Credit Card and Cash Essay Example
  • Credit Card vs. Paying Cash Essay
  • Essay about Credit Card and E-cash

Become a StudyMode Member

Sign Up - It's Free