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Credit Cards
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are quickly becoming a major problem for the American people. It is so easy to get into debt with a credit card, and anyone with a mailbox and a pulse can get one. Many Americans can't get out of debt and they run into credit problems; some even file for bankruptcy. The reason it is so easy to use a credit card is that when you use plastic instea ....
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....e if a person just paid the banks suggested minimum payment. The middle class is also going further into debt. Credit card debt rose 23.5% from January 1997 to March 1998. Sixty three percent of all U.S. households now owe money on their , and last year they spent $70 billion in interest charges and fees. Credit card debt now accounts for 43% of al.... |
| Word count: 2269 |
Page count: 9 |
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