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Credit Cards
Part 1 of Paper
....a credit card, and anyone with a mailbox and a pulse can get one. Many Americans can't get out of debt and they run into credit problems; some even file for bankruptcy. The reason it is so easy to use a credit card is that when you use plastic instead of cash, you spend more because you don't emotionally register the p.... Part 2 of Paper
....hat once they are in debt, they can only afford to make the minimum payment and therefor can never pay off the balance of the credit card. For example, it would take 34 years to pay off a $2500 balance if a person just paid the banks suggested minimum payment. The middle class is also going further into debt. Credit card debt rose 23.5% from January 1997 to March 1998. Sixty three percent of all U.S. households now owe money on their , and last year they spent $70 billion in interest charges and.... |
| Number of words: 2269 - Approximate pages: 9 |
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