Credit card usage is a feature of a civilized society with market relationships. Banks offer a really convenient alternative, letting people not to save money and not to borrow from their friends. Building a good credit score becomes a goal of life.
According to USA Federal Reserve data more than 40% of American families spend more money than they make. In average each American spends $1.2 for every $1 he makes. Non-circulating debt (for example, a car loan) accounts for 63% of these borrowings. Speaking of circulating (constantly paid off by credit cards) debt, its growth is really swift. Five years ago this index was 1/3 smaller; 10 years ago it was twice as smaller.
Today an average American owns 2,7 bank credit cards, 3,8 retail credit cards and 1,1 debit cards in all 7,6 plastics per person. About 18% of all the purchases, that Americans make, are paid with credit cards. Purchases with other plastics account for 24%.
Purchases are made so easily that it becomes a Trojan Horse. Monthly payments often turn to be more than Americans can afford. Any average American family has about $8000 debt.
The lion share of this huge sum stands for the...
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