Many people are using credit cards or loans to run up huge personal debts that they may be unable to repay it should, therefore, be made more difficult for individuals to borrow large amounts of money what are your opinions on this give reasons for your answer and include any relevant example from. Buying on credit was huge problem in the 1920's since the 20's was a period of great economic boom, not many people took the future into consideration many people bought expensive luxury items using money they did not have installment buying allowed people to make a monthly, weekly, or yearly payment on an item. Credit cards are potentially dangerous, especially for new credit card users who may be fascinated by the allure of what seems like “free” money even some experienced credit card users still fall into credit card traps if you're thinking about getting a credit card – or wondering whether to drop your credit. Avoiding debt is one of the best ways to prepare for a secure financial future many consumers, though, risk financial freedom by falling into credit card debt if used properly, a credit card offers many advantages, such as protecting purchases, building credit, and it makes it easier to purchase expensive items without. Missing a card payment could result in a penalty and repeated late payments could even result in the reduction of your credit limit, which would have a negative impact on your credit score and future credit prospects ease of overuse - with revolving credit, since your bank balance stays the same, it might be tempting to put.
Essay topics: the reason that most individuals are in debit is due to the overuse as well as irresponsible use of credit cards banks should not issue credit cards unless they are completely sure of an individual's ability to pay back their debits to what extent do you agree with this swativekariya's picture. Amount of credit card debt or maybe you desire to contribute money to a homeless shelter or a hunger-relief organization each of these situations involves financial decision making that requires, first, planning, and then, taking action the process you use should be carefully considered so no (or only a few) surprises occur. She doesn't have a credit card herself, nor does she want one “i think that [ teenagers will] abuse [credit cards] that young,” she said “it's pretty much having money that you really don't have i mean, people completely overuse it that's why there's so much credit card debt, because people think they have.
Let's summarise the advantages and disadvantages: advantages: a credit card gives you access to money and the facility to pay it back later, like a loan i think 'credit cards question' is a kind of transformation of the advertising topic i mainly use some ideas from writing adverting-related essays, which. When you apply for a credit card, it can feel insulting to be offered only a low limit, which won't be of much use to you but too much credit can be dangerous, too a high credit limit can encourage overuse and make it easy to rack up too much debt unfortunately, you won't know exactly how much credit will. People overspend due to a lack of planning ahead, revolving credit and the overuse of credit cards these problems could be solved by requiring financial budgeting classes to anyone who has filed bankruptcy and as a graduation requirement for students in high school thereshow more content “there are 13 billion.
Unless you can show that you have enough income to make monthly payments, you'll need an adult cosigner — that is, an adult who promises to take responsibility for the loan — to get a credit card this law is meant to protect young people from making mistakes and overusing credit but it's still up to you to manage your. The good: when a credit card is used properly and responsibly, it may have many advantages for the cardholder some advantages to using a credit card may include: credit cards are very useful for emergencies credit cards are often required to hold a reservation credit cards offer protection against fraud above and. A brief history of credit cards explosive growth of credit cards potential dangers and risks with credit cards good financial management practices with credit cards some suggestions for good credit consumers may overuse them because they are so “easy” to use and so readily accepted in so many places.
Columbus, oh news - view daily local business news, resources & more in columbus, ohio. Before applying for a credit card, you should first consider the advantages and disadvantages of using one advantages use for emergencies buy now, pay later purchase protection helps establish good credit if used wisely disadvantages overuse high interest/annual fees increase your debt establish poor credit if.