By Eillton Henley

　　付美榕 选译

　　《经济学家》杂志上曾有一幅漫画：一头肥硕的大猪，面对盛餐后的一片狼籍，左手拿着一支雪茄，右手抄起一个空空如也的小猪形储钱罐使劲往里瞧……这幅漫画形象地说明了美国人的高消费低储蓄。难怪有人说美国人已经把孙子辈儿的钱都花光了。说来说去，都是信用卡惹的祸。

　　"Charge<注1> it!" If those two words sound familiar, it is no wonder.Over 75 million Americans use credit cards to pay for everything from tickets on American Airlines to AAA<注2> car rental. And the number of cardholders increases every month. In fact, most Americans receive at least two or three credit card applications in the mail every month. Why have credit cards become so popular?

　　For a merchant, the answer is obvious. By depositing charge slips in a bank or other financial institutions, the merchant can convert credit card sales into cash. In return for processing the merchant's credit card transactions, the bank charges a fee that ranges between 1.5 and 5 percent. Typically, small, independent businesses pay more than large stores or chain stores. Let's assume that you use a Visa credit card<注3> to purchase a microwave oven for from Richardson Appliance, a small retailer in Texas. At the end of the day, the retailer deposits your charge slip, along with other charge slips, checks, and currency collected during the day, at its bank. If the bank charges Richardson Appliance <注5> percent to process each credit card transaction, the bank deducts a processing fee of (×.05=) for your credit card transaction and immediately deposits the remainder () in Richardson Appliance's account. Actual bank fees are determined by the volume of credit card transactions, total dollar amount of credit sales, and how well the merchant can negotiate.

　　For the consumer, credit cards permit the purchase of goods and services even when the funds are low. Today most major credit cards are issued by banks or other financial institutions in cooperation with Visa International or MasterCard International. The unique feature of bank credit cards is that they extend a line of credit<注4> to the cardholder, much as a bank's consumer loan department does. Thus credit cards provide immediate access to short-term credit for the cardholder, who instructs the bank to pay the merchant immediately and reimburses the bank later. Of course, the ability to obtain merchandise immediately and pay for it later can lead to credit card misuse. Today the average American cardholder has a credit card balance in excess of ,00. And with typical financial charges ranging from 1 percent to 1.5 percent a month, you can end up paying large finance charges. For example, if you carry a ,000 balance on your credit card and your credit card company charges 1.5 percent a month, your monthly finance charge will be (,000×.015 = ). And the monthly finance charges continue until you manage to pay off your credit card debt.

　　The easiest way to establish credit is to open checking and savings accounts at your local bank. Then apply for a gasoline or store credit card. These cards are fairly easy to get because retailers want you to buy their goods and services. The third step, and the most dangerous one, is obtaining a major credit card like Visa, MasterCard, or American Express.5

　　It is important to choose a credit card carefully because terms and conditions vary widely. Annual fees range from to a year, but some credit card companies charge no annual fee at all. If you will be one of the growing number of people who don't pay off their credit card transactions in full each month, look for the card with the lowest interest rate. Interest rates generally range from 12 to 18 percent, though it is possible to find cards with lower rates.

　　A credit card can be your friend because it can get you through unexpected emergencies. And if there is a problem with the products or service you purchase with your credit card, you have an opportunity to withhold payment by asking the credit card company to "charge back" to the retailer until the dispute is settled. Monthly credit card statements can also help you keep your records in order. Finally, if you make payments on time, the card helps you to establish a good credit history.

　　A credit card can be your enemy because it is an invitation to purchase items you really do not need. The credit card companies' continuous offers of low minimum payments, cash advances, and even months without payments may seem like a way to skate through a money crunch. In reality, your finance charges and fees only increase, and you go deeper into debt.

　　If you do find yourself in trouble, do not ignore the bills. Contact your creditors to explain your problem and express your desire to pay down<注6> your card balance. If that fails, a nonprofit organization like Consumer Credit Counseling Service can assist you in getting back on your financial feet.

　　Protect your credit card number and your credit history. Never give your card number and expiration date to someone you did not contact first. Never write your credit card number on a personal check. Do not answer every preapproved credit card letter you receive (two or three cards are all you should need). Finally, photocopy your card, and if it is stolen, notify the credit card company immediately. -