Since 1951 when the first credit cards hit the New York streets, people’s relationship with their small plastic cards continually swings between love and hate. Credit cards are the all too convenient way to borrow money, instant cash with no thoughts. No thoughts, that is, until the bill comes around and the credit card payments are due.
Credit cards gave people financial power and independence for the first time more than 50 years ago. Today there are store credit cards added to the mix of what seems like the trillion choices of credit cards from all types of financial institutions and lenders. All of them vying to lend you money. Can you imagine living without your instant cash reserve? Read the rest of this entry »