Greedy Creditors and the Abuse of Consumers Essay -- essays papers

Greedy accreditors and the Abuse of Consumers Society is rapidly leaning on credit card game. More consumers prefer to carry tensile instead of cash. Moreover, the privilege of holding a line of credit is comfortable and useful in todays world. From hotel reservations and apartment rentals, to ordering online products, families atomic number 18 relying on credit as a time saving devise. As the importance of credit soars, money hungry creditors are taking improvement of the publics reliance on credit cards. accredit cards are essential for the escalated pace and demands of todays society.Consumers are increasingly using credit cards to simplify their spending. In addition, carrying cash is more than dangerous than carrying credit cards and cash is more difficult for reputation keeping. In Fact, Hickey (2000), states that cards are safer than cash and necessary for online shopping. In regards to record keeping, reasonably, 45% of the consumers feel comfortable with us ing cards for the purposes of day-to-day living (Using citation, 1998). In short, because most families are busier than they used to be, moderate time necessitates credit card usage for accurate records and time management. credit rating card companies are creatively abusing the American consumer. Robert Heady (1999), founding publishing firm of Bank Rate Monitor, contends that creditors are making substantial profits from diverse unfair practices. Heady identifies the strategies as late charges, over limit fees and wrong account information. For example, one consumer states that his creditor claims that it takes thirteen days for the company to post the feement, resulting in a late charge, but the creditor sends the bill without adequate time to pay thirteen days in advance (Heady, 1999).... ...ge Students arent ready for plastic. BusinessWeek Investor Online . acquirable http//access.barry.edu Business Week Online. 2000, September 25 . Using Credit (1998, November). Using Credit Cards for Daily Expenses.(brief article) USA Today Online . Available http//www.findarticles.com 1998, Nov. Heady, R. K. (1999, July 5) . Some Credit Card Firms Play Dirty Ball. Sun-Sentinel Company Online . Available http//access.barry.edu2061/research/edata.htm Weber, J. & Palmer, A. T. (2000, February, 14) . pay Consumer Debt The Perils of Plastic. Vol. 3668, Business Week. P.27Vickers, M. (1999, March 15) . A Hard Lesson on Student Credit Cards. Businessweek Online Online . Available http//access.barry.edu2150/search/search.htmKoretz, G. (2000, January 10) . Plastic Puts the Door at Risk. Economic Trends vol. 3663. P.36.