Individuals need to evaluate their personal credit positions using the same thought processes used by business people. Some of you might consider the idea of not having a credit card a ridiculous proposition. But the reality is that the misuse of credit cards brings financial hardship to millions of Americans each year. Credit card companies aggressively market their cards with images of glamour and happiness. But, there isn't much glamour in paying an 18% to 21% interest rate, and there is very little happiness to be found in filing for personal bankruptcy.
Should you cut up your credit card(s)?
YES: Americans are carrying huge personal debt burdens. Credit cards encourage unnecessary, spontaneous expenditures. The interest rates on credit cards are extremely high, which causes debt problems to escalate exponentially.
NO: Credit cards are a necessity for transactions in today's economy. In fact, many transactions are difficult or impossible to carry out without a credit card. People should learn to use credit cards responsibly.

Instructions
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