Has anyone else noticed that credit card companies are like drug dealers? You may laugh at the comparison but lets think about it for a minute. Credit card companies set up shop in areas where the government will not hassle them (South Dakota and Delaware), they make it easy to get credit at a young age so that you get hooked, they offer low payments so you can put more on the card without feeling much of pinch in your budget, and if you pay down the balance they lower the minimum payment to try and keep you on the juice. This is all classic drug dealer behavior. Not only do these two entities behave the same way but their products (narcotics, and debt) have similar effects. They ruin marriages, concern family members, forfeit peoples futures, and enslave people to a habit that is not good for them.

Now we all think people should stay away from taking drugs and that drug dealers have only their own best interest in mind, but we consider credit card companies something to do business with.  Maybe next time that store clerk asks you if you want to save 10% by getting a credit card you will think of them as the local peddler instead of someone wanting to help you out.


This entry was posted on Friday, February 8th, 2008 at 10:34 am and is filed under advice. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.