Are Credit Cards Evil : The answer: It depends.
A credit card placed in the hands of a financially responsible adult can be a helpful financial instrument. It can help one build up credit and acquire rewards for making everyday purchases like gas and grocery. Someone in their twenties or early thirties these days will likely not be able to qualify for a mortgage without having a sound credit history, being responsible with a card is the best way to keep your credit score high.
Are Credit Cards Evil A card placed in the hands of a teenager or financially irresponsible adult is committing financial suicide. One of the only real complaints I have with credit card companies is that they target their prey [customers] very early, much like cigarette companies. I began to receive applications for cards in the mail at age 16! The average person with card debt has a balance of over $15,000! When making minimum monthly payments you can expect to hang on to your balance for decades. You will likely end up paying between 3-5 times the amount of what you actually bought in interest to the company.
In the end, those with card debt have only themselves to blame. It is the lending companies job to spend billions each year advertising their cards on TV or in the mail. You are the one who controls what you spend your money on and when you pay back your balance. You have the opportunity to pay off your balance during the interest free “grace period.”