Until the "Culture revolution" of 1960-s having debt was among the worst sins within the "Western Society", which was based on the Protestant Christian values. People felt unhappy when they met New Year holiday with personal financial debt (together with other kinds of undecided problems).
By now the situation has completely changed. If American citizens have debts but pay for them constantly and timely - they are considered the most desired clients of whatever it could be. Merchants can rely upon financial abilities of such customers. That’s why we have a really strange tendency, when a person can possess some solid capital but has never made credit purchases, then credit organizations prefer to refuse him or her to establish credit line. And their explanation would be very simple: nobody can predict such client’s behavior and responsibility.
If we take a look at an ordinary American family, we may find that totally it uses four to six credit cards. If we count up moderate credit limit as $5000 (or even higher, like $10,000), then we get a common household budget extremely burdened. First of all it happens because of extensive expenditures. This may lead to eventual bankruptcy and awful losses for anybody with average credit history.
And let us not forget about the mechanism of applying for a credit card. Nowadays, due to the progress of online tools, getting credit card becomes faster and easier. It’s like buying gun at the shop – somebody just gets it and then we see the news about school shooting events.
Modernity is the time of advertising. Credit cards are among the most popular things to be advertised. Credit organizations send not only their offers but even the cards itself. These special cards are called “preapproved” and if you are suit to their credit history requirements, then you just need to make one phone call to activate. There are various groups that fight with such practice, because it brings people closer to bondage threat.
Maybe the most difficult matter is the credit card “popularity” among high school students. You may always find a mass-media story about upset parents and distracted students who suddenly discover dark grin of their credit cards. Sometimes these young people commit suicide having no idea how to deal with the problem.
However credit cards cannot be abolished, they are the part of modernity and WILL be used.
All you need is just advertence to your budget.
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