Nowadays an average family owns 4-6 credit cards. If we take into consideration that credit limit of each card varies from $2000 to $10000, we may understand that the fact of acquisition of 6 cards implies the growth of family budget up to $12000-$60000. The temptation is overwhelming, so people can't help saving cards, begin to waste unreasonably, and finally ruin.
The relationships between a customer and a bank have been changing from decade to decade. Nowadays you even have an opportunity to apply for a credit card which does not require annual fees or transaction fees. It attracts more new clients, willing to use plastic money.
Plastics are advertised quite aggressively. They are sent by mail with a mark "Approved". It implies that a recipient does not have to apply for a credit card and be checked with regard to financial responsibility. Activation of this card takes only one telephone call. American protection of consumers battles against this practice, since these plastics are sent not only to those who do their best, but also to persistent non-payers.
But most of all the public is disaffected with this distribution of plastics, especially among students. There are lots of various articles on some accidents with students who chose suicide as the best method of solving their credit card debt problems. In attempt to extend the client base via students' applications companies used to employ such practices, as gratuitous CDs, nice T-shirts, etc. in case of a credit card application.
Most of Americans live on tick. During a long time, plastics were regarded as substitute for cash, thus people could get rid of various inconveniences when dealing with cash. However, multiple studies show that the convenience is not the only reason for giving preference to plastics. Millions of Americans have forgotten the way 'solid cash' look. There are also purely psychological reasons. Summarizing the results of these studies, we understand that plastics play the role of an "anesthetic" in case a client makes a purchase.
When a person realizes that he or she ought to give money to someone, the brain sends an alarm signal - do I really need to buy this? Will I be able to afford this? Taking the cash out of a wallet a person experiences the act of financial resources reallocation (money in exchange for goods or services).
However, when dealing with a credit card, the situation changes radically. This is just a piece of plastic, really! And the only thing you have to do is to affix your signature on a check. Do not forget that it's also the money. But the money which you cannot see, electronic money. Thus, your brain does not "alert", and it is much easier for you to part with your money.
Among American customers there is already a nickname for plastics - "mall money". A customer comes to a big department store with the purpose to buy new sneakers, but leaves with a new CD, a new bag, and so on. It very much looks like a trap. So be careful and do not let some tempting but unfair credit card deals baffle you!