Credit Cards

Most Americans Should not Use Credit Cards.

For some, credit cards are a convenient and safe substitute for cash. It is particularly helpful, for example when making distance purchases, such as ordering something by mail or over the Internet. However, for the majority of Americans, credit cards have become debt traps that are fast resulting in a financial crisis not only for these individuals, but also for the country as a whole. According to Chu (2008), for example, an increasing number of Americans are using their credit cards to survive today's harsh economic climate. This trend is simply driving the crisis to further extremes. However, credit cards are not only used to stay afloat. Many Americans are driven by greed and consumerism to buy as much as they can with what they perceived to be their "wealth." This trend makes it almost impossible to resist buying a non-essential...
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