The Secret of Responsible Credit-Card Holders
The Secret of Responsible Credit-Card Holders
The Secret of Responsible Credit-Card Holders.
Frank Darabont, the director of Shawshank Redemption, wrote a furious little
article on the virtues of hard work. In it he included an ode to the MTV
Generation who are no longer teenagers. I say furious because he was
disappointed that we now live in a world where we measure anything
worthwhile by how much we enjoy it. He was appalled that we no longer set
our eyes on long-term goals, on achieving our dreams by the willingness to
struggle; on knowing that the satisfaction which comes at the end will make
all the difference. Reading such passionate words made me think about how
that answers a lot of questions about the increasing trend in consumer debt,
particularly through credit cards.
There are two sides to the coin. On the one hand, banks encourage consumer
debt; they even go so far as to target people who would more likely fall into
debt. On the other hand, is it so unfair to say that it is you who ultimately
decides if you fall into debt or not? Are you as much of a victim as young
children who are targeted by advertising? They are kids who are far too
controlled by instant gratification to be expected to reasonably assess for
themselves. Is it fair to say adults are just as much a victim to the never-
ending predatory instincts of consumerism? Is there nothing that separates
the adults from the children anymore, save for height and sexual awareness?
It doesn't end there, however. What does it mean that consumer debt is
increasing? Possibly that people are less responsible, that the new generation
has been so desensitized to the value of money that they transform into adults
with their need for instant gratification intact. Is this the direction of the new
world? That we are slowly but surely turning into drones programmed to
respond thirstily to the advertising gimmick.
But it doesn't end there. Since credit checks are frequently done during job
applications, studies are revealing credit card debt to lead to psychological,
health and social problems. Creating a sense of low self-esteem as people
begin to increasingly feel that they simply cannot control their urges. Not to
forget that credit cards have been designed to incur debt little by little, a few
dollars at a time, until suddenly it's staring back at you as thousands. Then to
add insult to injury, there is the complete lack of government restriction on
the amount of interest credit card providers can charge you. Particularly with
the fine print and the infamous, "terms and conditions apply."
For the responsible consumer, though, a credit card is an inexhaustible tool. If
you take a good hard look at how advertising designs itself to hook you and
reel you in, you'll be able to stand back and make informed decisions. Which is
all you really wanted to do to begin with. If you spend wisely, a credit card
becomes an invaluable asset. The new world may be shaking off the effects of
MTV, finally coming to terms with reality, and beginning to understand that
there are no victims. It is simply an exercise in responsibility.
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