Excessive Credit Card Debt

Excessive credit card debt is the leading cause of bankruptcy in America. The immense amount of freely offered unsecured loans has caused a new high in financial bondage in the nation as never before. The lowest interest rates in the nation's history instigated a massive marketing scheme by charge card companies. This plan was to target the largest consumer group ever, by convincing them to attain extraordinary sums for use in any manner by offering low-to-no interest rates. Then, by various strategies, they increased those rates, which are aimed primarily to those less able to pay off excessive credit card debts. Millions of middle to lower income people are now stuck in the debt cycle for infinity. The average home in America carries 14 charge cards, according to recent financial surveys by consumer credit counselors. The excessive credit card debt in this country has surpassed any financial situation in history, even though, unbeknownst to many who failed to learn their history, it was excessive credit usage that precipitated the Great Depression. Such overindebtedness is a burden to the nation's economy as a whole, even though it is the individuals who feel the pain. Those with excessive credit card debts deal with never ending payments and high interest rates that blindside them whether the surprise hit them after a low rate promotional period or because of personal default in making timely payments or going over limit.

Strained budgets, both personal and corporate, cause businesses to fail and families to break apart. Excessive credit card debt demonstrates the sins of covetousness and greed. The easy access to developing such a state of indebtedness, which charge card companies have provided to the American public, has proven to be, more than any other means, the greatest culprit of temptation ever known to man - a subtle and beautiful tempter. The overly-available temptress is poured into mailboxes targeting youth heading into college as well as those who can never earn enough to meet the demands of modern society. Excessive credit card debts are touted as the answer to purchasing dilemmas. They, then, offer answers to transfer other accounts from one creditor to another as they compete for lower rates, but there is fine print that requires an accountant to decipher.

Proverbs warns against the subtle tempter of excessive credit card debt. "For the lips of a strange woman drop as an honeycomb and her mouth is smoother than oil: But her end is bitter as wormwood, sharp as a two-edged sword. Her feet go down to death; her steps take hold on hell...Remove thy way far from her...Lest thou give thine honour unto others , and thy years unto the cruel; Lest strangers be filled with thy wealth and thy labours be in the house of a stranger." (Proverbs 5:3-5; 8-10). Excessive credit card debts are feasts offered by strangers who only seek to enslave the borrower. In America, the majority of citizens are providing these strangers with their wealth instead of using it to live a life free from debt that is usable for the kingdom of God.

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