Argumentative Essay On Credit Cards

Frontline: The Card Game Credit Cards. They are now apart of everyone 's lives. Credit cards allow people to make purchases on almost anything by borrowing money from banks and credit card businesses. Most people use them as their daily payment choice over cash. But over the years, credit cards have become a risky business for consumers to use. The lending of cash has hurt as many people as it has helped, due to the development of th money-making machine this is for banks and credit companies. With the popularity of credit and debit cards growing over cash, the card game has only just begun.

The use of credit cards do have their benefits. Credit cards tend to be more convenient for shopping because they’re effortless to carry around and they

These fees can be late payments, monthly payments, and even interest rates. These ploys doesn’t stop consumers because most people bet on themselves by believing they won’t miss a payment. Many credit card companies would send their disclosure information in the mail, which are confusing for regular people that don’t understand the terminology. Also, these papers don’t fully state what the real pricing would be for the customers until after they were approved, thus trapping many people around the

The problem with the bill was that the banks still could find ways around the bill and that it didn’t take affect till another 8 months later. During the 8 months, the credit companies raised the rates and fees on the cards. The bill was supposed to help consumers, but it actually made it more difficult to get credit cards, which caused interest rates to go higher.

The banks were losing income, so they turned to debit cards. The law didn’t have debit cards in mind, so the banks are still able trap people into overspending. Consumers have started using debit cards more often, which actually had more expensive fees. The overdraft charge would make the banks millions, due to the advertisement of free checking. The banks will continue to make a large amount of revenue as long as they can resume unregulated.

To conclude, the card game is controlling the customers and holding them hostage. The credit card companies have been taking advantage of people for years and now are being fought back against. This information will help me now, since I know more about the tricks banks and credit card companies use to make more of a profit off people. I also learned the debit cards aren’t as protected as I once thought. I believe that this dilemma will last for a long time, we only can learn to protect and watch over ourselves as