loan

subject: The Secret of Responsible Credit-Card Holders [print this page]

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.

welcome to loan (http://www.yloan.com/)