Online Credit Cards - Should You Go for It?
A Credit Article Contributed by Mark Mcclelland
Who Offers Online Credit Cards
It seems like just about everybody offers online credit cards these days. The Internet has certainly revolutionized the way credit cards are marketed and the ease with which they're issued. And its likely that whatever your situation, including a recent filing for bankruptcy, there's a credit card out there for you... online. 'Hey, that's great' you say, 'but exactly who offers these cards and how can I score one
Well, online credit cards are offered not only by the biggest names in the industry, like Chase, CitiGroup, Bank One, Bank or America, Advanta, and MBNA, but also by your local thrifts, credit unions and savings and loan institutions. And this list only covers those who offer VISA cards and MasterCard's. A lot of other big names offer online credit cards as well, including American Express, Discover, and Diners. The opportunities to score credit abound.
It's almost gotten to the point that your local grocery will start offering online credit cards. That is, if they don't already.
Are So Many Online Credit Card Offering Creating a Problem
Although it's true America's greatness was built on capitalism, and that capitalism runs on credit, it doesn't necessarily follow that the credit should be easy to get. But that's exactly what's happening; the increasing ease with which credit can be obtained online is startling.
But to be fair, there are at least two views on this matter: there's one view says easy credit isn't a good thing in that it doesn't promote the kind of fiscal responsibility we'd all like to say we have, and then there's another view that says that stricter credit policies would limit the expansion of our economy by restricting the amount of funding available to pursue the development of new, creative ideas and products, leading to an undermining of capitalism, and thus America's greatness.
Regardless of whether or not credit is too easily obtained, American are filing for bankruptcy at an ever increasing rate, due in large part to credit card debt burdens they can't support.
So, What's the Bottom Line on Online Credit Cards
Well, the bottom line is that easy credit via online credit cards is here, and is likely here to stay. And that may, or may not, be such a bad thing... it depends. But ther's one thing that is clear, and that is that the types of fiscal behavior such easy credit promotes in most of us is not necessarily in our own, or the economy', best interest.
It's extraordinarily difficult for most of us to pass up that shiny new gizmo, or expensive lunch, or crystal vase, when we have a credit card with an unused balance burning an hole in our purse or wallet. It's almost like maxing out our credit cards is a rite of passage to... to what? Well, bankruptcy is one possibility, and it's not a very pleasant experience, as those of you who've gone through one can attest. Or wisdom.. perhaps.
