The Credit Card Invention

Who ever invented the credit card? So many of us were grateful in the beginning, but then our gratitude turned into anger and disgust. It's all related to the APRs. There is just no escaping that interest rate that inevitably goes up, and up, and up. You know the drill. Unfortunately all the newbies to the "real world" never do.

I'm referring to the recent high school graduates and fresh college students. Even though we rant on about the cons of credit cards, they still get excited at the American Express credit card spiel in the mail. You know, the one that has a 19.85 APR on purchases. Wow, what a deal that is!

There is no escape from the credit card madness. Our world is basically enveloped in it. Try and claw your way out if you can, or do one better by not acquiring any credit cards at all. I don't care if it's an American Express credit card with a 0 APR for the first year. It's not worth your future earnings and upcoming torment with debt. It's bizarre for me to mention this now because my 18 year old daughter is currently in the hot seat. She is receiving American Express credit card offer after MasterCard credit card offer daily.

They never stop pitching. The hilarious part is that the interest rates are atrocious. Most are right about at 20 percent. Sadly she doesn't know if that's good or bad. I told her it's utterly horrible. And yet, she still wants to acquire that very first credit card. I guess it's understandable on some level. It's a part of being older and more independent. But clearly I don't want to watch her fall into debt like most of us do.

If a Visa, MasterCard or American Express credit card is essential in your life, then I'd have to suggest some serious recon work. Yep, it's time to browse the web over and over for low APRs. Don't choose an application until you pinpoint the best one. If this is your very first credit card, you'll have some work ahead of you. Although some people prefer an American Express credit card because of their open spending limit, I don't recommend one for a college student or young individual. These are strictly for the financially set.