Credit card companies are extremely good at marketing and because of this the use of credit cards have become a norm and a way of life for everyone. Many Americans can say that they use their credit cards on a daily basis. According to experts, the large amount of Americans buried in credit card debt is driven by factors like inflation and high credit card interest rates.
Michael Reynolds Opinion on Credit Card Debt
Millions of Americans are living paycheck-to-paycheck. Unfortunately many Americans are not falling into debt because of lavish spending habits, but instead they are falling into debt for reasons such as day-to-day living expenses or some kind of emergency expense. Michael Reynolds, a certified financial planner and owner of Elevation Financial stated that consumers become psychologically detached from the purchases they make when using credit, versus a debit card or cash, which are more tangible forms of payment. He went on to say “That detachment makes people feel less pain or stress when they use credit. It doesn’t feel like they’re spending real money.
Are You Struggling To Pay Off Credit Card Debt?
If you are struggling to pay off your creditors it is crucial that you act quickly. CuraDebt has been helping individuals and small businesses for over 22 years nationwide. As of May 2023 CuraDebt received a score of 5 out of 5 on CustomerLobby for a total of 1179 customer views. CuraDebt is an Accredited Member of the American Fair Credit Council. Contact us for a free consultation. 1-877-850-3328.