Plastic passport to debt slavery. Let's face it, if you can't afford something by direct debit, does it make sense to take out a high interest loan for it? If you can't afford to pay for it
now, will you be able to pay even more shortly
later?
Madness! Credit cards lead to spiraling debt by encouraging a buy now, PAY through the roof later
culture. Ease of use helps people forget that they're spending hard
money, moreso than cash.
Can be ruthless in reclaiming spiraling debt, people have become bankrupt and lost house and
home because of credit cards.
Often seduce impressionable people with an array of asthetic/colour options, promoting it as a fashion item to be flouted!
FACT: The collective personal debt of Britain is now around one trillion Pounds (£); that's greater than the entire external debt of Africa, Asia and Latin
America combined! Talk about a credit card
culture. The
bubble will burst, with mass reposessions etc.