Credit cards make it easier to give in to impulse buying and indulgences that are not really necessary.
Dallas, TX (PRWEB) June 29, 2013
National Debt Relief, the number one provider of debt settlement services, recently published an article that discusses how credit cards may be causing consumers to be bad people. This article is timely in light of the CNN Money report that “Young Americans are ditching credit cards.”
In the article published in the CNN Money website last June 14, a couple of statistics were provided to prove how true the claims of the title are. According to the article, young Americans who refuse to own credit cards have doubled ever since the the economic decline. 16% of 18-29 year old consumers do not have even one card in 2012. In 2007, 9% of the same age group did not have credit card. That is almost double the figure in just 5 years. The debt in this category declined by ⅓ - at least for 18-29 year olds. The average credit card debt went down to $2,087 from $3,073.
To drive the credit card warning further, National Debt Relief released an article entitled "Are Credit Cards Turning You Into A Bad Person?" This publication identifies how these plastic cards are turning consumers into irresponsible money managers.
The article narrates how the United States is turning into a cashless society - much like other developed nations. In fact, the article reveals that 70%-80% of adults have at least one card.
The debt relief company is quick to point out that these cards take money from the future of consumers - a reverse of how savings give money to the future. It defines how consumers are in danger of being in debt - in case their future income is compromised.
Not only that, the article states how card holders are also becoming irresponsible when it comes to spending decisions. National Debt Relief blames it on the convenience that is provided by these cards. As a matter of fact, credit cards make it easier to give in to impulse buying and indulgences that are not really necessary.
There is also the chance that credit cards make consumers quite forgetful. It is easier to forget how much one spends on purchases because there is no actual money involved. It can easily lead into debt because the accumulating balance is difficult to keep track of.
While National Debt Relief offers debt settlement to help with credit card debt, the company sincerely wants consumers to just stay away from it. They have published this article with hopes that card holders will be more responsible in handling their finances.
To read the whole article, visit National Debt Relief.
To determine if your credit card debt has gone out of hand, use the debt calculator found on the website. To find out how debt settlement can help solve credit card problems, call 888-703-4948 to talk to an IAPDA (International Association of Professional Debt Arbitrators) debt expert.