Is easy credit leading to the downfall of our soci

Credit is a real temptation in today's society and modern life. It has the ability to destroy us financially or even go bankrupt if we are not handling it responsibly. Credit has done incredible and far-reaching damage to our society due to its irresponsible use and abuse.

Used sensibly credit can be extremely useful and beneficial. When used irresponsibly it can certainly lead to the downfall of individuals, and eventually society if enough members proceed to use credit unwisely. The current downturn in the economic climate is directly due to lenders lending in an irresponsible manner, and consumers taking advantage of this, often in an uneducated way which has left them confused and angry as a result.

Credit seems to be quickly replacing cash as the popular way to pay for things in today's society. It's almost frightening to see how easily so many can get their hands on high limit credit cards to spend on whatever they like. People seem lured by the promise of great rewards and seemingly free money. Many people liken a credit card to spending money that is freely given to them when in reality that money is far from free and not paying it back on time can lead to dire consequences.

The fact that more and more people rely on credit to purchase not just impulse buys but such crucial purchases such as food, gas, and even bill paying is a sign that we as a society are giving less value to money; treating our credit cards like an endless supply of purchasing power that gives us what we want when we want.

At one time money really was valued; not in terms of having it was good, but in terms that having it meant that you could have more through saving to buy what you needed or wanted. Now it seems society treats money as a thing that just stands in the way of getting what they want. With credit that 'hassle' of saving money is no longer; if you desire something you can put it on plastic and pay for it later or even better just pay it off in small chunks for years to come.

Then there are those that use the credit cards to try and reap the cash back and rewards that these companies dangle in front of us. Sadly however the truth is that most people that are lured in by these rewards do not have the financial diligence and restraint to spend within their limits and pay off their cards each month; thus the rewards become meaningless and the quest for them becomes a struggle to pull out of unneeded debt.

Those that support the idea of credit as being a great thing do not realize that many people are simply impulsive by nature. Dangling lures of easy money, great rewards, and lots of credit to spend doesn't usually lure those that are financially secure and well off, it lures those that need money or want things that they can't currently afford. Although it should be said that even those with enough money to not need credit cards still can fall into the trap as credit card companies offer far higher limits to those with higher incomes.

We all tend to be impulsive at times and many of us at times get wide eyed at the prospect of what seems like quick cash to save the day or get us our new toy. But it is the rise of credit and the companies that prey on these human shortcomings that will ultimately do society in. As more and more people rely purely on credit and continue to lack good control of their spending, society will fall further and further into debt. For those of you that may be wondering if I am wrong because the credit card companies will profit and flourish and thus society as a whole will be financially ok, consider this: There is only so much money in the world; it only changes hands so often. As money is technically finite since producing too much can weaken the economy, society will reach a point where the majority of those in debt can no longer afford to pay any of their debt back.

Originally posted by: Summer3

Easy credit is dangerous and often we find out too late.

Yes, some give a credit card to the wife ( which is normal but expensive) and some even give it to the kids (which is disaster).

Originally posted by: Khatarnak

Credit is a real temptation in today's society and modern life. It has the ability to destroy us financially or even go bankrupt if we are not handling it responsibly. Credit has done incredible and far-reaching damage to our society due to its irresponsible use and abuse.

Used sensibly credit can be extremely useful and beneficial. When used irresponsibly it can certainly lead to the downfall of individuals, and eventually society if enough members proceed to use credit unwisely. The current downturn in the economic climate is directly due to lenders lending in an irresponsible manner, and consumers taking advantage of this, often in an uneducated way which has left them confused and angry as a result.

Credit seems to be quickly replacing cash as the popular way to pay for things in today's society. It's almost frightening to see how easily so many can get their hands on high limit credit cards to spend on whatever they like. People seem lured by the promise of great rewards and seemingly free money. Many people liken a credit card to spending money that is freely given to them when in reality that money is far from free and not paying it back on time can lead to dire consequences.

The fact that more and more people rely on credit to purchase not just impulse buys but such crucial purchases such as food, gas, and even bill paying is a sign that we as a society are giving less value to money; treating our credit cards like an endless supply of purchasing power that gives us what we want when we want.

At one time money really was valued; not in terms of having it was good, but in terms that having it meant that you could have more through saving to buy what you needed or wanted. Now it seems society treats money as a thing that just stands in the way of getting what they want. With credit that 'hassle' of saving money is no longer; if you desire something you can put it on plastic and pay for it later or even better just pay it off in small chunks for years to come.

Then there are those that use the credit cards to try and reap the cash back and rewards that these companies dangle in front of us. Sadly however the truth is that most people that are lured in by these rewards do not have the financial diligence and restraint to spend within their limits and pay off their cards each month; thus the rewards become meaningless and the quest for them becomes a struggle to pull out of unneeded debt.

Those that support the idea of credit as being a great thing do not realize that many people are simply impulsive by nature. Dangling lures of easy money, great rewards, and lots of credit to spend doesn't usually lure those that are financially secure and well off, it lures those that need money or want things that they can't currently afford. Although it should be said that even those with enough money to not need credit cards still can fall into the trap as credit card companies offer far higher limits to those with higher incomes.

We all tend to be impulsive at times and many of us at times get wide eyed at the prospect of what seems like quick cash to save the day or get us our new toy. But it is the rise of credit and the companies that prey on these human shortcomings that will ultimately do society in. As more and more people rely purely on credit and continue to lack good control of their spending, society will fall further and further into debt. For those of you that may be wondering if I am wrong because the credit card companies will profit and flourish and thus society as a whole will be financially ok, consider this: There is only so much money in the world; it only changes hands so often. As money is technically finite since producing too much can weaken the economy, society will reach a point where the majority of those in debt can no longer afford to pay any of their debt back.

Originally posted by: P1nk

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