While credit may be a necessity in today's economy - especially with regards to establishing a credit record - for many, credit has become a source of great conflict and stress.

For some people, the first credit card offer came while they were in college. When funds were tight, the access to funds and convenience of a credit card was too good to resist. For some families, the credit card was a seemingly practical solution to paying for all the necessities of their new home, or of starting a family. Unfortunately, for student and young family alike, what began as a convenient solution  soon turned into a significant burden of debt not easily absolved.

However, the risks of using credit cards, and credit in general, has not deterred the majority of people from charging everything from coffee and a donut to dinner and a movie, from appliances to home entertainment systems, and beyond.  Now a multi-billion dollar industry, the credit card companies are enjoying the widespread use and reliance of credit that many use to sustain their lifestyles. And with this growth has come the stress associated with managing the inevitable debt load that comes as a price for the convenience of credit.

The stress of having to keep up with even one minimum monthly payment can be too much for some individuals and families, resulting in perpetual charges on the unpaid balance. In many cases, several credit cards are involved, so the problem is magnified even more. For many families, the credit card debt sits amidst the list of other payables - after mortgage and car payments - and the collective weight of all this debt takes its toll on many marriages.

So what is the solution to all this credit stress? The most effective solution, of course, is to cut up the cards altogether. This takes care of the problem of rising balances. While this solution does eliminate the temptation to abuse one's credit cards, it offers no help to the person genuinely wanting to learn to use credit responsibly. For this person, credit cards are an important part of managing and tracking spending.