Credit cards have become as common as television sets in our society.  You probably don’t know anyone who doesn’t have at least one.  They do have a purpose and there is nothing wrong with them.  However, while just about everyone has a credit card, almost everyone has had or has heard a nightmare story.

The problems with credit cards are pervasive.  Fraud is rampant.  Identity theft, mail fraud, and excessive debt are just a few of the problems we face as credit card holders.  With the emergence of the internet, fraud has increased dramatically in the last ten years.  While the industry has taken great pains to protect their customers, the criminal element always seem to be one step ahead.  We put our financial security at risk every time we put our credit card numbers online.

It is not surprising that criminals go to great lengths to steal our money.  Today’s thieves are smarter and more resourceful than ever before.  They steal our mail to use our credit cards, go through our garbage, and take our personal information to apply for more credit cards.  If we are not careful it may take months to realize that we have been ripped off.  Credit card companies limit our liability in most cases but the damage to our credit scores are devastating and may take years straighten out and we have to jump through never ending hoops to get our finances back on track.  Some innocent people have even found themselves arrested for crimes that thieves have perpetrated while using our identities.

Not all credit cards nightmares are caused by others.  With the advent of easy credit, many people find themselves thousands and even hundreds of thousands of debt that can never be paid back.  This debt affects families in many ways and in some cases lead to divorce and in a few tragic instances even suicide.  Although these may seem rare they are anything but extreme, there are people all over the country who find themselves caught up in the “credit card trap.”  Unfortunately the credit card industry enables this nightmare through easy credit.  The amount of money spent by these companies to market their product is staggering.  We are inundated with offers through the internet, with television and radio advertising, and direct mail.  The credit card industry has made it easy for us to find our debt spiraling out of control.

With today’s attitude where we want what we want now, the concept of saving to buy the things has evaporated.  Our parents and grandparents were raised in an era where credit was looked on as almost evil.  With the exception of their homes, many of our grandparents never found the need for credit cards.  Today however, it is difficult to go through our everyday lives without a credit card.  It is hard to rent a car or even check into a hotel without plastic.

While credit cards are not evil, today’s society must become more diligent with our credit to avoid the “credit card nightmare.”