BP#7

Summary

   Many people have been hurt by credit card. There are many reasons about this. People are lack of knowledge and correct information about credit, then they don’t understand the implication of amassing large debt. Students can obtain application forms for credit card on college premises. They don’t provide detailed information about this credit card, they will become a problem when they pay it off. Many institutions have been involved in misrepresenting the problems. Young people must learn as much as possible about credit. And parents must teach their children about credit care.

   Questions:

   I agree with the stance of this article. Parents need to teach their children about credit card. My cousin, who bought a car with a loan from a bank. He has three kids. He need pay for his kids tuition, he need pay the rent, food and so on. He doesn’t have any money to pay this car loan. So his car was tow away by the bank.

   People need to learn how to use a credit card in a good way. Think about your financial ability to repay the loan before take it out. In my country, there don’t have many people use credit card. People like use cash. People can buy a house or a car without credit. And a house is very important for a family. Everyone is care about their house. They must have enough money to buy it. They don’t like have a loan from bank in my country. Don’t like here.