Majority of Americans are living and surviving beyond their means, thanks to the credit privileges offered by credit cards. Research shows that the ordinary American family owns at least three credit cards. It can be safely said that majority of the American people today are deep in debt.
It is easy to get a credit card in the United States provided you have a good credit rating. Credit card companies have developed very good marketing strategies by sending credit card application forms to every family and enticing them with freebies if they get a card.
Any person would say that credit cards are a boon because they can rely on the good old plastics whenever they want to buy something and they do not have the cash for it. However, the problem comes during paying time and they do not have the money to pay for their credit cards.
When this happens, the principal amount loaned would increase depending on the agreed interest rates. Sometimes, the credit card companies can already get back the principal amount loaned just by the amount of interest they are asking credit card owners to pay.
The best advice to give any person is not to get any credit card at...
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