Most Americans Should Not Use Credit Cards When I write my paper, I will give my answer to the question of whether or not American’s should use credit cards. I will claim what whether someone should and should not use a credit cards depend on that individual’s circumstances. I think a strong case can be made against credit card us for most American’s. It is my personal opinion that credit card usage ought to be reserved for people who have a high income and who reliably make a lot of money.
These people will be able to pay off credit card debts quickly and afford monthly bills. Other people can easily fall into a trap and young people may easily ruin their credit rating and if they try and get too many credit cards without the money to afford their bills. Having credit cards that you only pay a monthly minimum on will never get paid off. It takes up to thirty years to pay off credit cards when paying on a minimum. Young adults and college students do not understand the responsibility of credit cards and the debt that can occur.
Having a good credit score is an important part of life. Without a good credit score, it will be hard to get a house, vehicle, or any other type of loan needed in the future of these individuals that get caught up in credit card debt. Usually a person with too much debt falls into the line of not paying the credit card companies back and has a lot of stress on their shoulders. Most young adults and college students already have a lot of debt from student loans themselves.
When they get caught up in so much debt it puts a lot of stress on the individuals and can run into the line of drug use or suicide. From my personal experience, as a young adult, I had way too much credit card debt. It ruined my credit score and pushed me to having to file for bankruptcy. I feel that credit cards are a good way to have an emergency backup, but when you are irresponsible the temptations to go and spend are more likely to come first.