I remember when only men could obtain a credit card. When requested by the holder, the credit card companies would send an additional card in the man's name only. Then, sometime in the '70's, the credit card companies touted their cards to women making attractive offers in order to snag women offering lower interest rates, rebates, rewards, etc. with a "get it now" policy. More and more women applied and received the cards.
Now, look what has happened today! Most card holders are so far in debt that they can only pay the minimum amount - which, by the way, has recently been increased by law. The state of credit card debt is way out of control. Prices have increased for medical supplies and equipment as well as the necessities of life. I blame the credit card companies for a good portion of the debt and the card holders for not resisting the promotional tactics. As prices continue to increase, so will the credit card debt. It's time for us to buckle down and pull up our boot straps to walk out of that brown stuff. We've put ourselves in a deep, deep well with no one to pull the rope at the top of the well to bring the well's bucket to the surface.
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When credit cards were practically being pushed down our throats or into our pockets, we forgot that there's no such thing as free money. I remember what a sense of accomplishment I had when I got my first credit card -- I felt that I had earned it. But then that was back in the days when we actually did earn the right to owe money.
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