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Here's an alternative
Perhaps, if people stopped using credit cards, the issuers would lose so much money that they would have to drop this product from their product lines, and go back to offering a greater variety of loans and other things that force consumers to pay them interest.
posted by
kidnykid
on December 19, 2006 at 1:27 PM
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Success….you have a very poignant point
about where the responsibility lies, but I must also add that card companies do often times become predatory. Young people are bombarded with mail offering cards to them and often find themselves in debt before they know what hit them. Additionally, why does the fine print have to be fine? It would seem that information of such magnitude as what type of expenses are being incurred by holding a card should never be relegated to fine print. And I think this problem does not end with mere credit cards, but extends to all forms of debt. The majority of Americans are, as you say, slaves to interest payments. There is nothing that helps people get more independent than getting out of debt, and I mean all forms of debt, even the home mortgage. I think a lot of misinformation is out there about the benefits of home mortgage debt but who would burn money just to deduct it? Not me.
posted by
telemachus
on December 19, 2006 at 1:27 PM
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