Essay about Benefits Of Credit Card Holders

1018 Words Oct 19th, 2014 5 Pages
Bankers and marketers have found a way to increase the amount of money they can receive from a customer. They are not doing this by offering a reduced price and they are not handing out free candy, instead they are doing this by charging interest, after first having persuaded the customer to pay off their products through loans by means of credit. Americans today have begun to spend money frivolously despite not actually having the monetary funds available at that moment. This will benefit the sellers and bankers but it will put the customer in debt that could take years to pay off. Packard challenges this idea of instantaneous money Packard claims that setting interest rates on a mortgage will make the customer buy the house for much more than it actually cost. He also states that credit card holders will spend more money than their cash constituents. A few examples of these same marketing ploys still in use today prove that Packard 's analysis was correct. One thing that has remained the same over the years is that many high school seniors will graduate. Many of those seniors will seek to enroll themselves into a university or next level education program. Toady, the cost of going to college has skyrocketed and student debt has climbed along with it. This creates a problem after the student finally completes their degree in the field that they chose, the student can find himself or herself in a lot of debt. An easy solution to this dilemma would be to advocate, if the…

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