The business of credit cards has been brisk in the last few years. In fact the number of Americans up to their eyeballs in credit card debt is proof of the industry’s health. But does all this business bode well for future business? How many more credit cards can consumers saturate themselves in?

Banks and Credit Cards

Do not be led into believing that your bank is your credit friend. Banking institutions no longer have that small town feel to them. They are as devoted to making a buck as are the credit card companies, which is why your checking account will invariably be side swiped by a passing high interest overdraft protection line of credit and your debit cards will be assessed stiff fees at ATMs everywhere.

Stores and Credit Cards

Stores are in on the credit business, too. Their brand of credit promises you immediate savings on purchases made now. While most financial critics suggest this is a way to secure your future business, the fact is that with your immediate purchase they can slap a high interest rate on your balance and not really care if you return. It will take you a bit to pay off the balance, anyway, especially if it is a large purchase. Congratulations, you have spent way more than you would had you just pulled out your regular credit card.

Credit Incentives

Making plastic even more attractive are the incentive deals being offered by credit card companies. You can win points towards rewards programs for travel, for gas purchases or for more lucrative and customizable rewards of your choosing. But do many people care?

Credit Card Bubble?

Has there, in fact, been some sort of credit card bubble? American consumers have been gulping up decks of plastic cards and the credit industry has run with it. The real cost of credit is the alarming debt that most Americans are suffering under. Perhaps we ought to just get used to this new way of life. Credit cards do not seem to be going anywhere, but how can this pace of spending on credit keep up? Has the time come for a bubble burst?