"THE ILLUSION, BLOG # 4"

     I believe that Credit Cards are an illusion, created by banks to bring in more money from americans.
For many years, people have used credit cards to pay for their homes, cars, and even tuition for college.
However, after all of these materialistic items and bills are purchased and paid for; many americans fall into
credit card debt! Due to people believing that credit is actually real money that is theirs to spend. When in all reality, that credit has to be paid back. When the debt is not paid back, it goes on the person's credit report and makes it harder for them to receive any type of credit from any company again.
      Then illusion of credit has been going on for many many years. Dating all the way to the 1930's.
Of course it wasn't called credit cards back then, it was called " Lone Sharking". Where in people would borrow money from someone called a "Lone Shark". Except, when you pay them back the money on time;
you have to pay interest, sometimes as high as 15%. Well back then, if you didn't pay them back, they would
either break your legs or kill you. These days, they don't hurt you physically, but banks will hurt you financially. According to http://www.news.newamericamedia.org/; there are five billion credit card pre-approvals a year. This causing the poor people to become poorer and the banks to obtain more money.
    It saddens me to see so many people end up homeless, or in financial despair due to credit card debt.
 In my opinion, this is an illusion that will only grow bigger in america and around the world.


Credit cards