An article posted on Goldstarcredit.net titled credit cards: friend or foe discusses the darker side of holding on to a credit card. While credit cards per se definitely can’t be
called a bad thing and their usefulness to card holders is a well known fact, the article discusses proper care necessary to prevent unwanted debt.
It is a known problem that people tend not to “feel” credit card expenses as they would with cash. Without witnessing the physical depletion of a certain amount of cash, people don’t realize how their spending is adding up and can be faced with an unpleasant surprise at the end of the month. This phenomena is what gave credit cards the knick name “plastic money” as a play on words since the card is plastic and the money spent appears quite fake (like plastic).
This is the same concept that casino operators discovered a long time ago and is one of the reasons they use plastic chips to represent money. When players gamble on chips they tend to forget the money it represents and bet more freely than they would with “real” money. The article by Goldstarcredit.net tries to encourage users to realize the responsibility that comes with their cards.
