Is Credit Over Rated?

They say that the average American household has about $11,000 dollars' worth of credit card debt of its very own. Consumer credit card debt is at an all time high. As a whole, Americans are indebted to the credit card company to the tune of about $560 billion. Sound crazy? That is because it is, and it is only getting worse.

If you haven't heard, the American government is doing everything they can to jump start the economy. It seems that people have stopped spending. Why? Because they are so busy trying to pay off the debt they have, they can not afford to incur any more. Interest rates constantly compounding certainly doesn't make it any easier.

Frankly, credit cards are how the middle class spends-everybody lives a little bit beyond their means and credit cards allow people to do that. With the ever increasing popularity of the Internet, a lot of that debt has to do with online shopping and the way that people buy gifts for one another and items for themselves. Even those who have done away with credit cards still need a way to maintain the lifestyle they have grown accustomed to.

If you are not indebted to the credit card companies, you may be one of those people that try as you might, just are not able to shop online because you don't have the credit to do so. Debit cards work yes, but putting your personal account at risk like that is not always something that people are willing to do.

Enter eLayaway.com. Do you remember layaway? If you are one of those young'uns out there you may not remember what it was like to have your whole school wardrobe put on layaway for half a year just to be brought home in time for you to wear for the New Year. This was a great invention, but the credit card phenomenon blew it all away. Even Wal-Mart doesn't offer layaway anymore; if Wal-Mart fails to offer layaway who else is going to? Luckily, eLayaway.com will.

When I came across eLayaway.com, it took me all of a few seconds to figure out just how much my site, UltimateTechGifts.com, could benefit from such an amazing innovation. What a marvelous idea, to think of bringing layaway to the Internet! The way I look at it is this; all I have to do is offer the method of payment of eLayaway.com along with the other methods of payment that you accept (PayPal, Visa, MasterCard, American Express, etc) and give the customers the option of using eLayaway.com. That really is it, and that is why I had to give it a try.

Take a few minutes to stop and think about all of the browsers you may lose because you don't accept mailed in checks or things of that nature for your purchase. Elayaway.com has opened a whole new avenue of payment for people who don't deal with credit cards and those who don't want to get themselves into even further debt.

Of course, eLayaway is not an instant payment type thing. It works great for those customers who have checking accounts and want to shop and is especially effective for those who don't need their item now, and have the freedom to wait for it. I can't wait to see how this pans out for my sales when Christmas shopping comes around.

As far as ease of use goes, eLayaway.com is pretty easy to use. Your customers don't make payments to you (the merchant), but they make payments to eLayaway.com. Once they have finished making their payments, you get notified and paid in full and the shipment goes out. This works so much better than saving and as a merchant, you don't notice the difference. All you have to do is participate.

Whether you choose to go with eLayaway.com is up to you, but as a merchant making money is your business, right? This just gives you one more avenue to make some money and by participating in the program you are paving the way for another type of customer-the frugal one. You have to get to every customer somehow, and the fact that my customers know I care about their budget has helped me immensely.

On UltimateTechGifts.com we sell some pretty highly priced tech gadgets and eLayaway.com just gives customers another way to afford it. You really don't have to do anything but sign up. Your customers can make payments over an extended time period without incurring those nasty interest charges., you make money and everyone is happy! My customers love it, and if you decide to become an eLayaway.com merchant your customers will, too.

Resource articles:

Credit card debt killing economy

Facing losses on bad loans, banks boost credit card rates

eLayaway.com

Article submitted by Paula Brewer, Owner of Ultimate Tech Gifts

UltimateTechGifts.com is your premier online resource for distinctive and unique gifts and home decor.