Most American Should Not Use Credit Cards

Most American Should Not Use confidence Cards Curtis downwind Cabil Jr. COM/172 March 4, 2011 Louise Giles Most American Should Not Use Credit Cards Even though Americans need confidence phone cards in todays society, most are ill-prepared to use them properly, subject overtake debt which damages their doctrine history; they should avoid employ assign cards, or use them sparingly. Most Americans are non prepared or educated enough to use source cards. Most Americans are unaware of the universal default penalisation where card issuers check the credit report of consumers to see if at that place are easy hirements on other accounts and raise the consumers interest come in on their cards even if in that respect is no novel payment on the cards in question. Most Americans are unaware of the bait and switch card offers. This is when card-issuing companies offer a premium card at a very low interest while the fine scrape says the company can issue a more high-priced non-premium card with a higher annual percentage rate if the consumer fails to qualify for the premium card. The number of Americans who have poor credit card payment history and max out credit cards is very high. Almost 2 percent of all(prenominal) credit card users have made a late payment on a credit card. They usually pay a steep price.

The national average for late payments is $29 and some banks as with Bank of America charge as much as $39 according to a new study by Vertis, a marketing company that researches consumer credit usage and payment habits. I have found through personal experience and observation, when most Americans start making late payments, it only repels worse. Once the late fees and interest start to sess up, it is harder for people to keep up, which leads to poor credit, high interest, and more barrier keeping up with credit card payments. The most key reason most Americans are not prepared or educated enough to use credit cards is because of the overwhelming credit card debt most Americans have. Most Americans... If you want to get a full essay, order it on our website: Orderessay

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