What is the real problem with credit cards?
by 
keithold thanks all baggers
ANSWERS: 21
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They cause to much debt.
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They accumulate debt like sugar accumulates ants.
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Flexible Interest Rates
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they encourage feelings of entitlement which leads to higher debt for the card holder unregulated percentage rates, going as high as the company wishes
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people do not know how to you use them correcty. There suppossed to be for a purchase you can afford but without the hassle of carring cash.not to spend money you do not or will not ever have. Credit card companies know this and put a lot of people in debt,sad and there should be rules put on them.
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They make it too easy to spend beyond your means.
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1. they are very very vulnerable to identity theft! 2. its TOOOOO easy to spend money!!!
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swipe and not paying.
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The interest rate is going up daily and the cc companies can do whatever they want to do without getting in trouble and people can spend their limit whether they can pay or not. Nothing wrong with using them for "emergencies" but most people lose sight of what emergency means
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The folks who don't pay them!
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You have to pay them back.
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They're bad for the global economy.
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Greed
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Credit cards make it difficult to resist temptations.
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The *real* problem with credit cards is that real wages in the US have stagnated since about 1970s. It used to be that a high-school graduate could find a manufacturing job that could provide for himself (it was almost always a him) and his family. Since then, because real wages have stagnated, US families went to two incomes. When that wasn't enough they turned to credit cards. When that wasn't enough, they cashed out the equity in their homes. Now that they've done all that and are still broke, there is no other source of money for them. Who knows? Maybe we'll have to rearrange our economy/society so that people start making wages again...;-D... http://www.amazon.com/Two-Income-Trap-Elizabeth-Warren/dp/0465090907/
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Paying them off
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People live over their means with them.
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People forget that they are a little plastic 'loan until payday' and treat them like a 'pay me back when you can' family member. Soon they are just servicing the debt on a nearly maxed card and still charging now and again when something comes up. Several hundred dollars out per card per month can be a lot of money when you're starting out.
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The bill comes in and needs to be paid! Too many people charge without realizing how much they have charged until reality strikes with the amount owing on the bill! YIKES!
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They have money that you spend that really is not yours and then costs a fortune to pay back
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Easy money..hard pay back..they encouarge debt!!
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