Effects of credit cards

Over the last decades, in United States of America, people have gotten credit cards and more debts in a way to get more things and improve their lifestyles, but this activity has been a problem, because people are not aware of their shopping, so the interest rates are eating a big part of the debtors’ salary, so the purpose of this essay is to  demonstrate the effects of using credit cards like the problems in the social, economic and emotional aspects.

One of the three problems is the emotional aspect, the high interest rates are causing that people get depressed and they think about suicide, moreover some people have done it, or people in a desperate way, just escape and their families don’t know nothing about them.

Second, the social aspect has been very attacked, because a lot of people as a result of the foreclosure are losing everything that they had, so they have to live on the streets, for that reason the poverty increases.

Finally in the economic aspect, the customers are wasting their money; because they are buying a lot of things that they don’t really need, just because with the credit card is easier because you have the opportunity to pay in installments.

To conclude, I want to say that people who get a debt with a bank because of the use of their credit cards, need to be very responsible, because credit card could be a weapon to destroy their lives, because the high interest rates, the mortgage and the foreclosure is affecting the economic, social and emotional aspects.

By: Andrés Osorio V

Credit Card

Cesar Ricardo Quecano Rosas 200811071

Effects of Credits Cards

The human being has always wanted more and more. Nowadays the publicity in the streets, radio, television, have many effects on the people for instance almost all the people try have the new clothe  or technology although some times this is necessary for some people. But generally the people can not have the new technology, clothe or unnecessary items because the people do not have enough money and if they want pay for this they have to do it in just one bill but whit the credits cards is easier have its because you can pay for this in many bills although buy whit credits card is more expensive. Therefore the people can have many debts easily and in few time and generally the people never think in the effects of this. The focus of my essay is show the principal effects when the people use frequently the credits the first effect is work enough time just for pay unnecessary bills, the second effect is the big depressing when the people can not pay their bills and the third effect is the bankruptcy.

The first effect is caused because the people do not know take a credit card and the people need know more about this, chose a great credit is not easy in the other hand the bank do not care if they have taken a good decision with their credit for instance for take a credit the people need have a good job and the salary from should be bigger than the credit and in some times much people do not know this and the effect is work more time just for take the wrong credit.

 

The second effect is when the credit card affects their personal live, for instance some people has been working for pay the credit card for much time and unfortunately the people is fired or lost their job or if the interest rate in their credit card increase and the people can not pay more and all the work for pay the credit cards is lost and this cause a big depressing and sometime we can see in the television than some people kill them self  because they can not pay the credit besides this affects enough the families for instance much people like the university students take this decision and this is terrible fir their parents.

 The third effect is the bankrupt, this is a typical and frequently example when the people can not pay, they can lose everything because the bank can take off their houses, factories, business, cars and everything than the people have worked and after form this event is very difficult stand up economically.

 

To conclude the principal effects when the people take a credit cards and they can not for this are the big depressing and in this effect is common kill them self, the bankrupt  when the bank take off the thing from the people and the big bill in the credits cards when the people do not use take the credit and use this.