Credit Cards Argumentative Essay

"Temptation is the Devil's workshop." Credit cards companies have long used a variety of marketing methods to encourage American consumers to step right up and apply for the latest credit cards. It sounds tempting, but how many people actually need credit cards? In case of a real emergency, credit cards could be very useful. Beyond that, they don't seem to provide anything more than a convenient way to extend one's presumed buying power.

The Truth About Credit Cards

In the hands of many Americans, credit cards are rather harmless. These people generally have the luck and resources to use the cards and get them paid off with a minimum of issues. However, it begs the question; "Is creating a society overly reliant on consumer debt worth the carnage it creates in the lives of people who are ill-prepared to deal with credit card debt?" The people who end up needing help from debt management companies like Rescue One Financial are the ones who owe a portion of the over $900 billion of outstanding credit card debt (Federal Reserve - 2nd Qtr 2015) owed in total. They are the ones who have household credit card indebtedness of over $7,000. They are also the ones who use 14% of their disposable income trying to service said credit

That's a lot of credit cards with a lot of available credit. It would seem to be an obsession while some Americans actually consider it a rite of passage to get their first credit card. The problem is when you get right down to the bottom line, most people don't need credit cards and would be better off financially if they never had

Here's a look at seven reasons why consumers apply for credit cards they don’t