Ooooh! Another credit card offer!
I am perplexed. And several of you, are not. I don’t assume that the world is populated with idiots, really. I used to assume that, when I was younger, but introspection viciously opened my eyes.
Still, what’s the deal with the credit card blame game? An organization purposed to increase revenue offers a contract which a consumer voluntarily agrees to. Said consumer uses the credit card to dig themselves into debt, and then cries foul and claims abuse.
I’m not trying to be heartless. Rather, I’m reaching out for some contrary perspective.
Credit card laws intended to “protect the consumer” have been quite beneficial. Before elimination of the Rule of 78s in the early 2000’s, I believe there was deliberate deception around credit agreements. More recent credit card laws have not only made terms more clear, but have dictated and capped certain penalities and conditions too. Far and beyond consumer protection, into regulation of an otherwise free market. I’m willing to accept that every single law passed was just ducky, because the (extra) laws aren’t what concern me.
“You are a victim.” That’s the message that millions(?) of consumers are given every year when they mercilessly abuse credit cards and drown themselves in debt.
We’ve been training generations of folks that they have no power or control over their decisions and destiny. Fooling them, I believe. The tyranny of low standards. I need your help, because in my mind it’s as simple as: just tear up the credit card offer and move on. Furthermore, if someone wants to charge to oblivion and sink into an ocean of debt, they need to realize that it is an active choice. The only “deception” at work here is in fooling one’s self; credit card laws can protect consumers from everyone but themselves.
Take a moment and help here, if you will. I’m wide-open for a civil dialog on the nuances of this issue.
Thanks, you’re awesome, Rich.
if you want to respond, please use the comments below. I know some of you are directed here from Facebook, but I like to keep the keen context and history of the topic here on the blog-site