Why we suffer from the creditcard debt?
Answer:
Get off the internet, it wil save money.
until you screw it up, credit is to easy to get
Because people don't understand a lot about credit and don't have the common sense to not borrow what they can't pay back.
Want and Greed.
People want more things than they can afford.
Those things cost more than they should because many merchants are greedy.
The cost of having cards keeps going up, interest rates are too high because credit card companies are greedy.
Unfortunately Americans as a whole are impatient, and are unwilling to wait until they have enough money to buy something. This is myself included. Thats why credit cards are so tempting, its like intstant gratification, delayed payment. People get into the habit of not paying for things, then all of a sudden, you are 5000 dollars in debt. Its scary.
im not suffeing,
I buy stuff, dont pay for it for 20 - 40 days and get points for free stuff
who's suffering
because the price of stuff around us goes up but our paycheck doesnt. the stores and restaurants are passing on the price of shipping (gas) on to us and we have to pay it. we cannot go to work and say hey i need $1 more a hr to work because of gas prices it dont work that way. so wore stuck paying more and we dont have it.
Its becos of BAD credit card management:
Nice info here:
Credit Card Debt Management
http://www.debt-explained.com/category/c.
The main reason is that the credit card companies knows every trick in the book to pinch every penny out of you.
stick to cash, you can never get a penalty for using it.
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
Other Questions and Answers: