Why do people spend so much money on their credit cards if they can't pay them off?!?

Answer 1

My ex-husband is like that and it ruined my credit while I was married to him. He has the personality that desires instant gratification. His actions serve the short-term needs with no foresight as to how to take care of it tomorrow. He lacks the restraints of common sense that would help him to spend credit only as much as he could afford to pay back. There are many people with credit cards who also lack such restraint.
It's because of people like this that credit companies need to tag on a ridiculously high interest rate.

Answer 2

Credit card payments are sort of invisible. Most people don't look at credit cards as cash. They look at it as a debt to be paid later.

They go through each transaction as if they will not be required to pay, but don't understand the interest rate and the minimum monthly payment will not cover the payoff of this type transaction.

When they do wake up to the fact that they have a debt that is above their earning capacity they have misused several credit cards and maxed them out.

Now since they understand the interest rate and how it works they make an attempt to remedy the situation.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 3

Because they can. We live in a culture with so few consequences for rash behavior.

Also, some people handle stress by lashing out, working out, vegging out,... all different ways. And some people deal with stress by shopping and spending - almost like an addiction. Pretty sad, since it adds to the stress in the long run.

Answer 4

They are thinking short-term. Why worry now, live in the present! I want this "thing" right now. People are becoming so materialistic!

Answer 5

Addiction to shopping