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Credit Card Applications » News » Other » Use AmEx to pay off America`s debts

Use AmEx to pay off America`s debts

June 21, 2010 | Updated on June 21, 2010
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The content is accurate at the time of publication and is subject to change.
This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the Citi.

There have been a number of patriotic citizens who have been contributing to the America's treasury consistently to help over the nation's debts. The good news is that this is now possible with the use of your credit cards.

If you have got a little spare cash, it is time you helped the nation overcome its debts. Right from the year 1961, the government of the United States has been accepting check and cash payments from citizens who want to play a small role in helping America pay off the debt, which currently stands at $13 trillion.

The Treasury of the United States has now made this easier by accepting such payments even through credit cards. The Bureau of the Public Department started accepting visa card payments from January 2010. Now citizens can also use American Express, Discover and Mastercard as well to make their contributions.

The treasury was asked if it was a right move to encourage US citizens to use their credit cards to help pay off the national debts. The spokesperson for the US Treasury just said that the government is just making it easy for the interested people to make their donations for this purpose. She did not elaborate further on this comment.

A consumer debt expert and president of South Vermont College, Karen Gross, was a little more apprehensive about the move. She expressed her concerns saying that it might not be a really wise decision to help pay off the nation's debt using one's personal cards.

Referring to the credit card act of 2009, she went on to say that the government was making moves to ensure the citizens of the country are not laden with debt. Under such circumstances, she wondered why the government would want people to contribute for a public cause at the cost of increasing their private debt.

The government treasury mentioned that they did not have the exact figure on the number of people who volunteered to pay using their credit cards. However, it is evident that the number of people who are using their credit cards for this cause has risen significantly.

Right from the beginning of the new millennium, the amount contributed by the consumers ranged from $600,000 to $1.8 million. In 2008, this figure rose to over $2 million and in 2009 it went up to $3 million. This year, the contribution may be higher than the last year, since the government has received over $1.6 million in just a span of six months.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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