The Use Of Credit Cards
Beginning of paper
is much more dangerous than use of checks
or cash. Paying with cash is very easy; for knowing how much money is
available and how much can be spent makes it very hard to get into debt.
When paying with a check the process is a bit trickier; the exact balance
has to be kept on the account at all t ....
Middle of paper
.... Universal
card charged $15 per month for late fee to people who paid their bills just
one day after the due date. Visa, on the other hand, was charging the
penalty fees for as little as a dollar over the limit, plus an interest of
up to 24.9 percent per year. In the second quarter of 1995, overdue
payments as a percentage of outstanding balance hit 3.267 percent. That is
the highest mark since recession of 1991.
"The picture is, some consumers are very, very deeply in debt,"
say ....
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Word count: 465
Page count: 2 (approximately 250 words per page)
