Credit Card Essay Example | Topics and Well Written Essays - 500 words

Credit Card - Essay ExampleIf the student with a piteous credit draw is fortunate enough to land their breathing in job, the weight of the credit report will pull downward a portion of their take home pay. They will be saddled with the existing debt, as fountainhead as pay higher prices on everything from cars to insurance. Insurance rates are based on a clients risk of filing a claim and the insurance companies adjust the premiums accordingly. A 2004-2005 study by the Texas section of Insurance found that, ...Insurance loss ratios for concourse with the worst credit scores are triple those of people with the best scores (Overview... ). For the poor credit risk this results in higher rates on auto, home, and raze life insurance premiums. Yes, even life insurance premiums are affected by a poor credit report be understanding poor credit stool damage your health and may result in your death. Endless financial worries and fears of collectors calling can manifest themselves in a myriad of medical problems. secure to manage credit can cause stress, hormone imbalance, heart disease, high blood pressure, diabetes, and even close to forms of cancer (Lawrence). The risk is even greater for young women where financial problems are a leading cause of suicide (Khaitova).Easy credit and the lure of the credit card companies can result in a lifetime of misery when out of control finances result in the loss of a students dream job. When faced with a second rate job and escalating insurance rates, their health begins to suffer. For some, the cycle of mounting debt can result in death or even suicide.