The Psychology Behind Credit Cards
This country has many valuable commodities. So many, that it is hard to find just one to talk about. One of the many valuable commodities in this country are credit cards. They are so prevalent in our everyday lives that most people find it hard to get through the day without using them. Grocery shopping, picking up the dry cleaning, paying the light bill, paying for dance lessons for little Tommy, will more than lightly be financed by a major credit cards.
There has been lots of speculation about why people use credit cards so regularly. Is it convenient? You bet your new sports car it is. And do not forget theft. Most cards will replace the funds taken by a thief. So clearly they are the safest way to go.
Most people are guilty of looking for that rush that comes with the ability to spend money with this form of plastic financing. This way of life has been woven into the fabric of how we all live our lives for many years. Somewhere in the back of a persons mind one would think the voice of reason would jump up and down at purchasing a five hundred dollar pair of sunglasses. Who else knows better than oneself that one can barely afford the ten dollar pair? Yet the sale is completed.
The bottom line is that most people want to be able to buy something they really can not afford. Face it buying whatever you want is a ego buster. And as long as the credit card companies say you can afford it most people will agree and make their next purchase.
Suddenly you wake up and find yourself lying under a twenty-five percent interest rate and the sound of your neighbor weeping his eyes out. He must have gotten his credit card bill too. And still today during your lunch break you just have to have that purse in the store window next to the sandwich shop. And the cycle continues.
This process will help in protecting the consumer from retroactive increases on interest rates for the balances on preexisting credit cards. It will also allow more time to pay the bill without being charged late fees.
The recent by-laws handed down by the government forbids the financial institutions from charging extra fees fro late payments. The privilege of having a credit card is even more attractive when it has low annual rates and lower interest rates to get you started. The by laws reform gives a consumer more time to pay the bill which means that late fess may not be collected if the customer pays on time.
It will also protect a consumer from being charged extra late charges for being late. Retroactive increases of interest rates on existing card balances. If a person wants to buy a house or a car they will have to have credit already established. An depending on how well they have paid their bills in the past will allow the finance company to set the amount of interest the customer will pay each month.
A lot of people will go well into their adult life not understanding this process until they get ready to buy something substantial.
There has been lots of speculation about why people use credit cards so regularly. Is it convenient? You bet your new sports car it is. And do not forget theft. Most cards will replace the funds taken by a thief. So clearly they are the safest way to go.
Most people are guilty of looking for that rush that comes with the ability to spend money with this form of plastic financing. This way of life has been woven into the fabric of how we all live our lives for many years. Somewhere in the back of a persons mind one would think the voice of reason would jump up and down at purchasing a five hundred dollar pair of sunglasses. Who else knows better than oneself that one can barely afford the ten dollar pair? Yet the sale is completed.
The bottom line is that most people want to be able to buy something they really can not afford. Face it buying whatever you want is a ego buster. And as long as the credit card companies say you can afford it most people will agree and make their next purchase.
Suddenly you wake up and find yourself lying under a twenty-five percent interest rate and the sound of your neighbor weeping his eyes out. He must have gotten his credit card bill too. And still today during your lunch break you just have to have that purse in the store window next to the sandwich shop. And the cycle continues.
This process will help in protecting the consumer from retroactive increases on interest rates for the balances on preexisting credit cards. It will also allow more time to pay the bill without being charged late fees.
The recent by-laws handed down by the government forbids the financial institutions from charging extra fees fro late payments. The privilege of having a credit card is even more attractive when it has low annual rates and lower interest rates to get you started. The by laws reform gives a consumer more time to pay the bill which means that late fess may not be collected if the customer pays on time.
It will also protect a consumer from being charged extra late charges for being late. Retroactive increases of interest rates on existing card balances. If a person wants to buy a house or a car they will have to have credit already established. An depending on how well they have paid their bills in the past will allow the finance company to set the amount of interest the customer will pay each month.
A lot of people will go well into their adult life not understanding this process until they get ready to buy something substantial.
About the Author:
Learn more about PPI Claims. Visit www.Mis-Sold-PPI.com where you can find out all about how to make PPI compensation claims and start to get your cash back.
You like it? Share it!
posted by DISCLAIMER: at
1:24 PM
0 Comments:
Post a Comment
<< Home