Released: August 13, 2008

Americans love-hate their credit cards

Source: Candace Choi, Associated Press

Americans still love their plastic, even if they don’t trust the credit card companies dishing it out.

A study released Wednesday by CreditCards.com found 58 percent of respondents said they “somewhat” or “strongly” agree with the statement “I don’t trust credit card companies.”

At the same time, 82 percent think having at least one credit card is essential, and 77 percent said they like the convenience of credit cards over cash. While seeing the pros and cons of credit cards, some 78 percent agreed with the statement that nobody really reads the terms and conditions when signing up for a credit card.

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