"It’s the cold, hard truth: Credit cards enable people to go into debt faster than ever before.
That’s partly because it’s never been easier to get a credit card. Did you know 72% of American adults have at least one credit card? And many have more than one! A few decades ago, we didn’t have this problem.
Before the 1950s, when modern credit cards were introduced, people pretty much bought just what they could pay for in cash. Fast-forward to today: The Federal Reserve says Americans are facing over $1 trillion in credit card debt. And the average credit card debt for a U.S. household carrying a balance is $16,048. (Yikes!)
While a lot of people are determined to take control of their money in every other way, they can’t seem to quit their credit cards. For those folks, credit cards are the last thing to go.
Here are some excuses behind the credit card obsession, and proof that no reason is good enough to keep that plastic around."
https://www.daveramsey.com/blog/excuses-to-keep-credit-cards
That’s partly because it’s never been easier to get a credit card. Did you know 72% of American adults have at least one credit card? And many have more than one! A few decades ago, we didn’t have this problem.
Before the 1950s, when modern credit cards were introduced, people pretty much bought just what they could pay for in cash. Fast-forward to today: The Federal Reserve says Americans are facing over $1 trillion in credit card debt. And the average credit card debt for a U.S. household carrying a balance is $16,048. (Yikes!)
While a lot of people are determined to take control of their money in every other way, they can’t seem to quit their credit cards. For those folks, credit cards are the last thing to go.
Here are some excuses behind the credit card obsession, and proof that no reason is good enough to keep that plastic around."
https://www.daveramsey.com/blog/excuses-to-keep-credit-cards