Premium Essay

Credit Card Opposite Arguments

In:

Submitted By lb50372n
Words 443
Pages 2
No one ever imagined that a small card made of plastic would replace the hard and fast currency in our pockets. Credit cards have become the chosen mode of payments in today’s world. It is easy to carry, convenient, and now with the uprising of the Internet and online shopping, it has become even more important to own one. With a credit card, you use money issued by the lender, which then has to be repaid, with added interest to the payment. Credit cards are a great accessory to have when cash is running a little low. However, they also have their downsides. Credit card debt plagues millions of Americans in today’s economy, and if not used wisely, advantages can become disadvantages.
First of all I will introduce couple of benefits that credit card provides for us. Unfortunately there are moments in our life when we need certain amount of money for emergency situations, for example money for broken or lost phone. So if we make an unforeseen, large purchase, credit allows us to buy it at once and settle up later. Besides it gives us the opportunity to spread the cost of a large payment over several months. Another advantage is that using credit cards can help us build a positive credit history. Having a good credit history is also very important, when the credit card owner is applying for loans, rental or even jobs.
However there are some cons of having credit card too. Credit card companies make their money by charging high interest on all of the money we spend on our card. These interest rates will be far above those we would receive from a bank on savings, or have to pay on a bank loan, sometimes as high as 25%. This high interest rate can make it very easily to accumulate debt. Combine with the risk of debt from high interest rates is the risk of blowing our budget. Most people have trouble keeping track of their spending when the money being spent is not

Similar Documents

Premium Essay

Gay Marriages

...Gay Marriages Priscilla Reyes Sociology 120: Introduction to Ethics & Sociology Kathleen Miller March 10, 2013 Gay marriages, I don’t believe in gay marriages only in marriages between a man and woman. I know that a lot of gays or lesbians are trying to get the Supreme Court to approve same sex marriage. In California, the Supreme Court is trying to get same sex marriages ban nationwide. The gay and lesbian are using the law to have the same sex marriages pass and there have been about 3 states like Maine, Maryland, and Washington that have passed the same sex marriage. In other states like Delaware, Hawaii, Illinois, Rhode Island, Minnesota, and New Jersey are against the same sex marriage. I don’t think that it should change what marriage is referring to between two men or two women; it is based on a man and woman marrying in holy matrimony. This is stated in the Bible and thru the standard government law and constitution. The government shouldn’t change the law of the constitution or the bill of rights because of same sex marriages. The gays and lesbians want the same rights as a man and a woman do when they get married, for instance if the significant other happens to pass away the significant other would inherited what their significant other left behind. It is not the same when a man inherited his wife life insurance policy or the wife inherits her husband’s life insurance. Marriage should only be between a man and a woman not two men or two women getting...

Words: 2517 - Pages: 11

Free Essay

Persuasion Thought Rhetoric

...Calling themselves “The Committee Against Unfair Taxes,” they mailed out expensive glossy brochures warning voters of the perils of the initiative. They were especially anxious to inform everyone that The sponsors of ill-conceived Proposition 10 are perennial political activist millionaire Rob Reiner and four other Hollywood/Los Angeles millionaire social engineers who believe they know more about raising your children than you do. This warning was accompanied by a grainy black-and-white photograph of Reiner (whom you may remember from reruns of the popular 1960s TV show All in the Family) that brought to mind a police mug shot. Now, when others want us to do something or want to influence our attitudes or beliefs, they may use an argument. That is, they may offer a reason why we should or shouldn’t do or believe or not believe whatever it is. They might also use threats, bribery, or even more extreme measures. But the passage quoted above illustrates a technique that is used much more frequently: the persuasive power of words, or what we have called their rhetorical force or emotive meaning—their power to express and elicit images, feelings, and emotional associations. In the next few chapters, we examine some of the most common rhetorical techniques used to affect people’s attitudes, opinions, and behavior. Rhetoric refers to the study of persuasive writing. As we use the term, it denotes a broad category of linguistic techniques people use when their primary ...

Words: 1106 - Pages: 5

Premium Essay

Sdfghj

...Q: What is criminal domestic violence? |  A: Criminal domestic violence is defined in South Carolina as "causing physical harm or injury to a person's own household member, or offering or attempting to cause physical harm or injury to a person's own household member with apparent present ability under circumstances reasonably creating fear or imminent peril." (Keep in mind that although some abuse may not fit the definition for a crime in South Carolina, it is real and you should seek appropriate help.) Additionally, there is the crime of criminal domestic violence of a high and aggravated nature which carries enhanced penalites for cases with more severe injury. Click here to visit the South Carolina General Assembly's homepage to read the complete text. | Who is the typical domestic violence victim? |  A: There is no typical victim. The majority of victims are women, but they differ widely in backgrounds. Domestic violence affects all kinds of victims regardless of things such as economic status, race, religion, education, or age. Unfortunately, it is happening in all kinds of families in South Carolina, and at an alarming rate. In 1996 the South Carolina Department of Social Services reported that 3,660 victims were sheltered, and shelters handled 14,892 crisis calls. If you are a victim, YOU ARE NOT ALONE! |  Q: What do I need to do to prepare to leave? |  A: You may want to speak with someone at your local domestic violence program to discuss the...

Words: 1023 - Pages: 5

Free Essay

Lost in Convience

...Lost in Convenience From the beginning of time people have made advances in technology for the sake of convenience. With the advancements of knowledge in our ever changing world inconvenience has become a thing of the past, or has it? In almost every aspect of one’s life we deal with technology. It is how we deal with that technology decides whether it is useful or not. In this essay, I will address the ways technology has affected my life and the lives of my friends and family through my own observations, experience and actions. Thinking of both convenience and technology in terms of comfort, it can work for us or against us. Technology has taken us away from the discomfort of everyday life that is now a thing of the past. Presently, people no longer know how to be self sufficient; technology has made us incompetent and unable to function without it. The convenience of technology brought us the remote control, so we now no longer get off the couch. Striving for comfort has removed us from the dinner table and into a fast food drive-thru. This quick and easy route has taken us away from quality time spent with the family. Technology has made us lazy, overweight, and unprepared. We have let technology take over our lives with and create a demand that if taken away would topple our society, so much so that people involve every aspect of their life, from their business and their children, with the technology. Now more than ever inventions are being made to make life easier...

Words: 1038 - Pages: 5

Premium Essay

Midterm Paper

...In contemporary American culture, consuming is as authentic as it gets. Advertisements, getting a bargain, garage sales, and credit cards are firmly entrenched pillars of our way of life. We shop on our lunch hours, patronize outlet malls on vacation, and satisfy our latest desires with a late-night click of the mouse. The idea that consumption is private should not, then, be a conversation- stopper. But what should a politics of consumption look like? A right to a decent standard of living. This familiar idea is especially important now because it points us to a fundamental distinction between what people need and what they want. In the not very distant past, this dichotomy was not only well-understood, but the basis of data collection and social policy. Need was a social concept with real force. All that's left now is an economy of desire. This is reflected in polling data. Just over 40 percent of adults earning $50,000 to $100,000 a year, and 27 percent of those earning more than $100,000, agree that "I cannot afford to buy everything I really need." One third and 19 percent, respectively, agree that "I spend nearly all of my money on the basic necessities of life." I believe that our politics would profit from reviving a discourse of need, in which we talk about the material requirements for every person and household to participate fully in society. Of course, there are many ways in which such a right might be enforced: government income transfers or vouchers, direct provision...

Words: 1336 - Pages: 6

Premium Essay

Doma

...Craine Northwestern State University Analysis of Contemporary Social Policy Issues SOWK 4350 Professor Sepora Fisher, LCSW April 29, 2013 Abstract The Law plays a prominent role in the everyday life of same-sex couples, continuing regulations and constant policing of sexuality and gender form around every aspect of same-sex couple and their marriage. Defense of Marriage Act (DOMA) a federal law designed to uphold the traditional meaning of marriage which is described as a union between one man and one woman by not recognizing same-sex marriage and taking the option away from the states to make their own decision. DOMA has become a leading problem not just for the same-sex couples who are denied the rights and privileges in which opposite-sex couples are afforded under the federal law, but DOMA has also been called into question for its constitutionality and whether it not only goes against equal protection for American citizens but also legally discriminates against a group strictly based off their gender and sexuality. Federal Defense of Marriage Act (DOMA) Analysis Problems that Necessitate the Policy: Section 2 of DOMA says “no State, territory, or possession of the United States, or Indian tribe, shall be required to give effect to any public act, record, or judicial proceeding of any other State, territory, possession, or tribe respecting a relationship between persons of the same sex that is treated as a marriage under the laws of such other State, territory...

Words: 3386 - Pages: 14

Free Essay

Mmmmmmm

...BUS2019 – Understanding Work & Organisations Word Count - 1840 words Name - Jinit Dedhia Student Number -120252266 Different aspects of the concept of ‘rationality’ and how these are identified in different management theories Rationality in today’s world has become a significant facet of management in organizations. Rationality as a whole can be defined as the ability of being consistent with or based on logic (Rona-Tas, 2007). A more appropriate definition for rationality in management for this essay is, described by Simon (1972) as a style of behaviour that is appropriate to the achievement of given goals, within the limits imposed by given conditions and constraints. The principal meaning of rationality is a condition of consistency among choices made from different sets of alternatives. In his view, rationality is defined by the existence of a preference relation which is complete and transitive (Arrow, 1996) .The essay is concerned with giving a brief overview of rationality and it will also discuss the different aspects on the concept of rationality identified in different management theories. Types of Rationality Rational behaviour is behaviour in accordance with reason, behaviour that in some sense serves the actor’s interests. Most writers seem to accept that rationality is an essential premise for any science of economics. In so far as economics is a science of human action, there seems to be little one can say of action...

Words: 2049 - Pages: 9

Premium Essay

Pros And Cons Of A Cashless Society

...1.4 CONS OF A CASHLESS FINANCIAL SYSTEM The aim of this section will be to take the into account the main arguments against the establishment of a cashless society and demonstrate how they are neglectable. Author, advisor and commentator on digital financial services, David Birch has classified these arguments in his book “Before Babylon, Beyond Bitcoin: From money we understand to money that understands us” (London Publishing Partnership: June 2017). They are: conservatism, demographics, seigniorage, security and privacy. 1.4.1 Conservatism It is argued that every person has an innate sense of conservatism, a risk-averse attitude towards innovations, and anchors himself to traditional value. This is what brings some persons to think there...

Words: 1667 - Pages: 7

Premium Essay

Generational Disease: Cevin Soling's Argument Against Cheating

...students to take entrance exams to Chinese and American universities (Larmer). While an argument could be made that testing doesn’t well reflect what the student is capable of, there is still great importance in being able to accurately interpret data, read critically, and solve math equations for real-world problems. These principles are taught in elementary, middle, and high schools around the country for the purpose of real-world workforce preparation (Coletti). Our country will be largely supported on the generation that is currently being educated. From a dying middle class to astronomical student loan debt, Millennials will be the ones deciding what America is to become (Henderson). If the future of America is resting on Millennials shoulders, a student cheating his or her way through the teaching of vital and necessary life-skills is only hurting themselves and generations to follow. Although it seems that cheating is extremely detrimental to our country’s future, there are still those who encourage cheating in the classroom. Cevin Soling, a journalist for Wired, is one of these supporters. You have been kidnapped and dragged off to a remote location where your abductors have tied you to a chair. One of your captors is seated in front of you. He holds up ten flashcards and informs you that he is going to ask you a series of questions and the answers are printed on the backs of the cards. He assures you that once he has finished asking these questions, you will be released...

Words: 1570 - Pages: 7

Premium Essay

Ethical Nature of Business Expenses

...Business expense accounts are a useful tool that many companies today choose to implement. The idea behind them is to enable a company to provide support to their employees whether they frequently travel or their job requires them to spend money. For example, a salesperson who travels will incur expenses such as lodging and transportation. These expenses could be covered using an employee expense account that will reimburse the employee at a later date or cover the cost at the time of purchase if the employee is given a credit card. With a perk like this, it begs to ask the question: how much freedom does an employee have over this expense account? Is it his or her money to spend as they wish? Robert Audi presents this issue by posing two situations to consider with regards to expense accounts. Would it be ethical to use the company expense account to take a friend to dinner while travelling? Or would it be ethical to invite a friend to share a cab with to the airport and expense the entire ride to your company? (142) The ethical issue arises in these situations because it is unclear if it is ethical for an employee to use their expense account for personal reasons such as allowing a person outside the company to benefit from the expense account. Are there ethical rules or company policies in place to govern they way an employee should utilize their expense account? To start this discussion, consider a scenario where no detailed company policy is put into place regarding how...

Words: 1704 - Pages: 7

Free Essay

Weeklu Business Digest

...2009 Weekly Business Digest Week ending July 5, 2009 [TYPE THE DOCUMEN T TITLE] [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the Networth – Everything finance document.] The Finance Club of IIMB 05/07/2009 Table of Contents India Business News World Business News Food For Thought INDIA BUSINESS NEWS Indian Stocks Advance, Driving Sensex Higher for a Second Week India’s stocks rose, driving the benchmark index higher for a second week, led by Larsen & Toubro Ltd. (L&T), after the government pledged investment in the nation’s railways and left freight and passenger fares unchanged. L&T, the largest engineering company, added 2.6%. Tata Steel Ltd., the biggest producer of the metal, increased 4.2% on speculation it will avoid higher costs to transport raw materials after the government announced the railway budget. on June 15, the Bombay High Court had ordered RIL to sell the gas for 44% less than the government-set price. Indian business in declined 20%: FICCI Gulf has ABG Plans to Raise $150 Million to Fund Expansion ABG Shipyard Ltd., bidding for control of Great Offshore Ltd., plans to raise $150 million to fund expansion, reviving a proposal from April last year. ABG, which originally sought to raise $200 million, will seek shareholder approval for the new plan on July 7, Chief...

Words: 2245 - Pages: 9

Premium Essay

Postcolonialism

...Post colonialism highlights the issues that hold various Western countries together in a grasp in order to define their weaker counterparts. Post colonialism is the study of exclusion, denigration ‘othering’ and resistance which takes place under systems of colonial control where countries struggle to deal with colonial legacy. When one looks at the text Waiting for the Barbarians by J.M Coetzee, the ideology of Orientalism and Mimicry unfolds and speaks of the unspeakable encounters of the Empire as opposed to the Barbarians thus, creating the distinctions between the empire and the colony. Therefore, it is the purpose of this essay to justify how the foretold philosophers theory, excavate understanding of Morrison and Coetzee’s text. Orientalism as according to Edward Said “Orientalism is the product of circumstances that are fundamentally, indeed, radically fractious.” To simply state, orientalism is the result of circumstances that revolves around misunderstanding of another inferior race that however results in anger and prejudices. This is evident when we look closely at Coetzee’s novel where there is an unnamed Magistrate who serves as the radical self and the other. As the novel progresses, the natives do not fit into the label ‘Barbarians’ despite the fact they live on the boundary, uncivilized in the face of the Empire, barbaric and inferior. These barbarians are then blamed for things that they do not even commit and are tortured on the terms of the command of the...

Words: 1638 - Pages: 7

Premium Essay

Behaving Entrepreneurially in Today’s Turbulent Competitive Business World Is Becoming Increasingly Importance for Larger Businesses. Drawing on Relevant Theories and at Least One Case Study Presented in the Lectures in

...larger businesses. Drawing on relevant theories and at least one case study presented in the lectures in this module, discuss the strengths and weaknesses of this argument. The Importance of Behaving Entrepreneurially The strengths in number far outweigh the weaknesses for this argument; however this essay will explore the impact these factors have on companies. Smaller, more entrepreneurial businesses are rising through the ranks, and if the larger firms are to keep up and retain their market position, they need to follow suit, by behaving entrepreneurially. My key arguments here is organisations do need to behave more entrepreneurially due to globalisation, hyper competition, economic turbulence, technological change, industries merging, ever-changing customer needs and markets becoming saturated. This essay will mainly focus on the analysis of three large companies; IBM (International Business Machines), Marks & Spencer and Continental Tyres. I will analyse where the companies were going right or wrong, and where they could have become more entrepreneurial. I will touch upon relevant theories that firms have used and will mention other companies that aid my analysis on behaving entrepreneurially in larger businesses. Entrpreneurial Culture- What is it? There are two main cultures that concern this argument; the Traditional Culture and the Entrepreneurial Culture (see appendix 1.1). In a traditional culture, employees are expected to adhere to all instructions given...

Words: 3831 - Pages: 16

Premium Essay

Accounting Notes

...Four basic financial statements: * Balance Sheet * Income Statement * Statement of Retained Earnings * Statement of Cash Flows Players: * Investors – trading shares – get dividends * Creditors – trading bonds – get interest rate; risk is less than if you´re an investor * Managers Financial accounting – provides info for managers and people outside the firm. Managerial accounting – provides confidential info for internal decision-makers (“private” or internal accounting). GAAP – Generally Accepted Accounting Principles. Most countries are converging to US GAAP or IFRS as a generally accepted standards. Private companies do not file IFRS. Qualities of accounting * Relevant * Reliable * Consistent (over time) * Comparable (across companies) Concepts of accounting 1. Accounting entity – хозяйствующий субъект 2. Going concern / Continuity – непрерывность – should be assumed that the business will continue to exist and bring economic benefits 3. Stable monetary unit – usually it is the currency. It is assumed that it has the same purchasing power throughout the time. 4. Time period 5. Concervatism / Prudence – расчетливость, практичность 6. Materiality Principles of accounting 1. Reliability 2. Historical Cost Basis – assets and rights of the Company are accounted for at their historical or production cost 3. Revenue – the company should establish rules when the revenue must be recognized...

Words: 1584 - Pages: 7

Free Essay

Questions and Answers

...Chapter Two Economics: The Framework for Business Review Questions 1. How did the global economic crisis unfold? The economy changed for the worst when the dot.com bubble burst in 2000, and 9/11 terrorist attacks happened in 2001. 2. What steps did the Federal government and the Federal Reserve take to mitigate the crisis? They decreased interest rates, and subprime mortgage came into play. They seized a few companies that controlled a lot of the mortgage. The congress passed a bill on dollar bailout plan. As the new administration began Obama passed a 825 billion dollar bailout plan. 3. Compare and contrast microeconomics and macroeconomics. How do the two approaches interrelate? Use a specific example to explain. Macroeconomics is the study of a country’s overall economic issues such as performance, structure, behavior, decisions making, and study rates. Microeconomics focuses on smaller economic units such as individual consumers, families and businesses. They can affect how much and what you can buy for your family. 4. What is the difference between fiscal and monetary policy? What role does politics play in shaping these policies? Fiscal policies refer to government efforts to influence the economy through taxation without representation and spending decisions that are designed to encourage growth. Monetary policies refer to actions that shape...

Words: 2326 - Pages: 10