Tuesday, September 20, 2011

The Credit Card Issue

It's almost pathetic that this credit card issue is still going on. It is understandable for people who had no choice but to be in a serious debt, and I feel sorry for those people, but the other miscellaneous reasons resulting in over-draft could have easily been prevented. I wish the credit card companies could show the statistics of amount and the % of the people who over draft in order for the new borrowers to be cautious of this vicious trend and educate themselves to become better owners of the card. Understanding the system and the tendency of credit card owners and to differentiate oneself from the majority of the population is extremely crucial.

1 comment:

  1. The credit card companies are making more and more money each time another person over-extends themselves. What should the credit card company do? Put a tobacco-like warning on each credit card they mail out (they may already do so)? Maybe instead of commercials with the football fan who continually swipes his plastic and is rewarded with an on-field NFL game day experience, they could implement a more realistic scenario. Credit card companies should show the same guy sitting on the curb as he watches the bank take away all of his recent purchases because he could not afford them. Not a very advantageous marketing strategy... If a card holder lives outside his means, it is his fault. Credit cards don't ruin lives. People ruin their own lives.