With the economic good times and peace of the 1920s, Americans found themselves focusing on new consumer opportunities available to them. From automobiles to radios, the buying options grew greatly for Americans. Many Americans began borrowing money (opening lines of credit) to buy what they wanted and needed. How could consumer credit be a good thing? What down sides can consumer credit have?

In my opinion, the consumer credit is always good because people can afford things and build a good credit history which will help them in the long run. The bad thing, in my opinion, is to be indebted in front of someone. Debt creates a negative connotation and affects many walks of life. Interest charges create even more debt. But historically, the consumer credit helped to build a better economy.

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Possible Answers:

The good aspects of consumer credit:

It would allow people to buy now what they might not have the money for immediately.
If the borrowing is used to invest in generating income or building marketable skills (education) it could more than pay back what is owed.

Down sides: