Part 1 of Essay
are quickly becoming a major problem for the American people. It is so easy to get into debt with a credit card, and anyone with a mailbox and a pulse can get one. Many Americans can't get out of debt and they run into credit problems; some even file for bankruptcy. The reason it is so easy to use a credit card is that wh ....

Part 2 of Essay
.... are the low-income household families. While only 20% of poor families had a credit card in 1983, 40% did in 1995. Their balances were higher than ever, exceeding $1,300 on average in 1995, up $700 from 1983. The reason these credit card companies are focusing on the low-income people is that once they are in debt, they can only afford to make the minimum payment and therefor can never pay off the balance of the credit card. For example, it would take 34 years to pay off a $2500 balance if a person just p ....