COM 156 Class Notes UOP

Apr 18th, 2015
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Credit cards, Americans DON'T NEED ThemNAMECom/156DUE DATETEACHERCredit cards, Americans DON'T NEED ThemAmericans often seem to struggle with the use of credit cards in today's society. Many Americans go into debt and cannot get out. They end up maxing out their credit cards and are not able to pay even the minimum payment. With these financial issues, their credit score will suffer and be impacted dramatically. This is why I am saying that, as Americans, we do not need credit cards. We shouldn't have to turn to the plastic, interest out the roof credit card companies to pay for our daily needs. We need to make sure we can make it without digging ourselves into deeper holes, although our pockets are so shallow.Credit cards can have a negative outlook on their credit score. Plenty of bad effects can be left behind on a person's credit once they have a credit card. For example, it can lower their credit score, which in turn can hurt them for future investments. These investments may consist of buying a house or even buying a car. Possessing a credit card is a big responsibility that cannot be taken lightly. By getting a credit card that has a large limit, it should be expected that there will be a large monthly payment in the near future. Don't forget those interest rates too, they will a big influence on that monthly payment. An author on About.com, LaToya Irby, wrote "maxed out and over-the-limit credit card balances make your credit utilization 100%. This i

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