Evaluation: Credit Cards Essay

Kira Johnson
Ms. Karsten
English 121
22 October 2013
Audience: Consumers with Credit Cards or Debit Cards
Article Evaluation APA “Credit cards have been around since the 1950’s and debit cards were introduced in the mid- 1970s (p. 1) It is hard to imagine that it only took roughly 35 more years before banks had issued 984 million Visa and Master Card credit and Debit cards just in the United States (p. 1).” This is a quote from the article “Credit and Debit cards: What you need to know” written by Jennifer Barrett. This article does an excellent job explaining to consumers such as myself some of the difference between debit and credit cards (P. 1). She first brings us back in time by asking us to imagine a time when non cash options were not available something I don’t know if I could fathom. [Int] First, Barrett (2009) walks us, the consumers, through the differences between debit and credit cards. [intro] She starts by explaining what a debit card does and some of its benefits. Barrett (2009) clarifies that a debit card connects to an individual’s bank account. In addition, Barrett (2009) explains one must be aware that as one spends funds are automatically deducted from their account (p. 1). Then she educates how an individual can use a debit card as an “alternative to cash” (p. 1). For example, if a person uses it on a daily basis it can provide a “snapshot” of where their money goes with the statement provided by the consumers’ bank. In addition, Barrett explains that one’s likelihood of overspending is decreased as their account balance reduces with spending each time a debit card is used. Next, Barrett (2009) describes what a credit card can do, and why we choose to use them (p. 1). [Ser] Also, that credit cards help people by allowing them to spend money they do not have, they can pay for things at a later date, can offer a way to be rewarded for purchases and protected for theft and fraud better, reports Barrett (2009, p. 1).” However, Barrett (2009) warns consumers that they must be careful because spending the banks money will result in interest if the balance is not paid back quickly (p. 1). The article also helps us to understand that if used responsibly a positive aspects to using credit cards vs. a debit card. For example, the rewards credit cards can offer to consumers in the way of giving the consumer back money, gifting the consumer objects or products and services at a discounted rate (p. 1). Finally, the article ends with some especially informative information on a few laws regulating credit cards at the federal level and on where

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