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The Use Of Credit Cards
Beginning of paper
is much more dangerous than use of checks
or cash. Paying with cash is very easy; for knowing how much money is
available and how much can be spent makes it very hard to get into debt.
When paying with a check the process is a bit trickier; the exact balance
has to be kept on the account at all time. Knowing what this balance is and
co .... Middle of paper
.... plus an interest of
up to 24.9 percent per year. In the second quarter of 1995, overdue
payments as a percentage of outstanding balance hit 3.267 percent. That is
the highest mark since recession of 1991.
"The picture is, some consumers are very, very deeply in debt,"
says Charles McMillion, chief economist with MBG Information Services. A
swipe of the card has become so natural that many consumers do not realize
how much they have ....
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Number of words: 465
Number of pages: 2 (approx. 250 words per double-spaced page)
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