Debt Easy
I. Introduction
The text, the title of which is « Debt Easy », is an extract from Time of 17th January, 2000. It is written by Rod Usher, and deals with the consequences of revolving credit in the UK and in the USA. The revolving credit consists in obtaining a reserve of money that you can use on your rhythm, and to reimburse on a more or less long duration according to your possibilities. The rates are proportional with the borrowed money, and are often really high.

II.
Banks

About the text

First of all : If the word “revolving” frightened in France, it’s common practice in United States, since 72 % of the persons having a card, have a credit card. It’s the same phenomenon in United Kingdom, where the rate is all the same 49 %. Moreover: According to the text, the “perfect borrower” is someone who can payback, enough but neither too much, nor too fast, so that he pay interests. I think that the example is too strong, but that the idea is right. What’s logical to me, it’s that a bank, as any company, has for main purpose to generate profits. If the consumers aren’t satisfied by the rates imposed by their bank, they can meet a competitor (or to put their savings under their mattress!).

The revolving credit
In England, the phenomenon of the revolving credit doesn’t stop increasing: between 1996 and 1999, the credits outstanding doubled. Ten years later, the figure must be phenomenal. And England is not isolated: Spain and Germany were concerned by this problem too. To me, the consumer who think that he has the freedom in his purse, don’t suspect the dangerousness which represents the credit and of the seriousness which is necessary to use it.

Cardholders
The fact of being covered with debt is a scourge. According to France Walker, from the C.C.C.S, it explains not only by a misuse of the card, but also by unfortunate and unexpected events, as the job loss, a disease, etc. Also, France Walker informs us that the number of young people