by : Michelle H. Jackson

It was in bad repute to have a debt till the XX century. Debt was considered to be a sin among Puritans and Quakers, who were the most powerful social strata at the time. It was a tradition to step into a New Year being free from debts.
Today it can't ruin your reputation to have a debt. Everything has turned to be the opposite. Owning a debt and making regular payments makes you the most respected and desired consumer. Credit companies can trust you. But it may have an unexpected effect - even if you have a considerable income but have no credit issuing companies will not give you a card. Credit companies have a special approach to that. They are concerned that it is hard to predict the behavior of a new credit holder and there is no guarantee that he will pay off the debt.
It is estimated that an average family in USA owns 4-6 credit cards. Taking into account that credit limit amounts for $2-10 thousand, having 6 plastics means the household's budget raises by $8-60 thousand. Lots of people cannot stand the temptation, plunge into excessive spending and end up in bankruptcy eventually.
The forms of interaction between credit card issuers and customers were changing from decade to decade. Today there are even no fee credit cards available. It became utterly easy to obtain a credit card.
Credit cards are widely advertised. Credit companies send ready to use plastics by mail with a "preapproved" stamp. You only need to make one phone call to activate this card. American society of consumer rights protection fights against these actions, because such cards are sent not only to people who keep their spending under control, but to those who are deep in debt too.
Credit card advertising campaigns in college campuses meet the most furious objection. US mass media offers a lot of stories about the youngsters who contracted outstanding debts and committed a suicide. T-shirts and CDs as rewards for filling in an application form are widely used methods of attraction new young auditory.
But despite all the dangers and challenges about credit cards, they don't seem to be vanishing. The conveniences of them break all the numerous drawbacks. Regular payments even teach cardholders how to be financially disciplined. Flourishing of credit cards with a supplanting of ready money is a reality of today.
Credit cards are used to be called "mall money" among American consumers. When they come to the mall intending to buy a pair of jeans, they often leave with jeans, shoes, bag, tennis racket etc. Yielded to the temptation cardholders forget about their financial opportunities and responsibilities. They behave carelessly hoping that numerous bills will bypass them.
But there is no way that credit debt can bypass them, and it comes unexpectedly bringing anxiety and disappointment.