11 November, 2019

Yeah, Sure, Be “Smart”: Get It On Credit!

Posted by Socrates in banking, credit, credit cards, debt, money, money-worship, Socrates at 1:42 pm | Permanent Link

Seen on the TV: a commercial in which Joe Citizen is portrayed as “smart” for using Brand X credit card. That’s funny! How is he smart for using a credit card? Thanks to interest payments (which can be as high as 20% depending on various factors) and hidden banking fees, he’s paying more money by using a credit card than if he didn’t use one! He’s dumber by using one.

Credit card usage has exploded in America. In the mid-1960s, Americans only had oil-company credit cards to buy gas. That’s all. You had your Exxon, or Mobile, credit card and you used it to buy gasoline. But today, credit cards are used to buy everything, even a pack of gum. The average American has 3 “universal” credit cards. It’s ridiculous. Indeed, in the old days, if you wanted to buy a new TV set, for example, you saved up your money for maybe a year, and then you bought one. But today, you don’t save up your money. You go out and buy a TV set immediately with a credit card! It’s the “American way.”

One of the worst things a young, White man can do is get a credit card. Don’t do it. You’ll soon be in debt, even if you try really hard to avoid it. Many people think that you must get a credit card these days, or else you won’t be able to, for example, buy a car or rent a hotel room. That’s partly true, but partly untrue. Life without a credit card in 2019 can be difficult, yes, but it’s not at all impossible [1].


[1] “Studies indicate that couples and families fight about money more than any other subject…” [More Here].

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