May 5
A necessary evil?
As interest rates rise in the US and the UK there are a lot of people who are blaming credit card companies for the extensive debt people have gotten into. Some even refer to them as a “necessary evil” which is think is quite daft. People get credit cards in full knowledge they will eventually have to pay the money back, even with balance tranfers with a lot rate.. Their “manana-manana” approach to life means they are not thinking long-term.
How is that the fault of the companies that offer credit that some people can’t handle it? Credit cards provide convenience, safety and easy portability for those of us who move around alot. They are a great invention and are far superior to cash. You should compare cards and go in with your eyes open. As with anything else its a case of cavaet emptor.
