is it possible for individuals to become addicted to credit cards? How can one break such an addiction?

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Asked 2/22/2012 10:58:11 AM

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User: is it possible for individuals to become addicted to credit cards? How can one break such an addiction?

Weegy: Is it possible to be addicted to coupons and couponing? If it's saving money, can it ... because it was such a ... How to Break a Coupon Addiction; Photo Credit ...

User: is it possible for individuals to become addicted to credit cards?

Weegy: Though "shopaholic" and "retail therapy" jokes abound, compulsive buying and credit card addiction are no laughing matter. For compulsive buyers, the overwhelming need to buy is an obsession that can ruin finances, marriages, careers and even lives, [ say compulsive shopping addicts and researchers. An overwhelming majority of compulsive buyers, or shopping addicts, use their credit cards to feed their addictions, say experts. April Lane Benson, a compulsive shopping researcher, psychologist and author, estimates that 60 percent to 75 percent of the compulsive shoppers she works with have credit card debt as a result of their shopping addictions. Benson defines a "credit card addict" as "somebody who uses their credit card, maybe for every purchase they make. I've seen people use their credit cards for a pack of gum at the drugstore. There are some people who absolutely don't want to pay anything in cash," she says. The reason is simple: "Cash is real money. Credit card is plastic - and for some people, it doesn't feel like real money." Read more: Compare credit cards here - CreditCards.com ]
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Closed-end in credit is used for a specific purpose and involves a specified amount. TRUE.

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