Part one of term paper
is much more dangerous than use of checks or cash. Paying with cash is very easy; for knowing how much money is available and how much can be spent makes it very hard to get into debt. When paying with a check the process is a bit trickier; the exact balance has to be kept on the account at all time. Knowing what this balance is and continu ...

Part two of term paper
... and more people get into debt. According to American Bankers Association (ABA), Americans owe more then $387 billion on their credit cards. This frightening number, averaging about $3,900 per family, is just as bad for the economy as it is for the consumers. In September of 1995, for example, The AT&T Universal card charged $15 per month for late fee to people who paid their bills just one day after the due date. Visa, on the other hand, was charging the penalty fees for as little as a d ...