Fundamentally, credit card businesses are in business to make money. Certainly business practices should be ethical (emphasis on “should be”) but in the end, credit card companies exist because they know consumers overextend themselves and will continue to do so, and apparently, people don’t mind paying to overextend themselves.

Ultimately, consumers have few people to blame other than themselves when they’ve spent far more money than they have. I’m not saying there is not “good types of credit”, I am writing about overextension and going beyond any debt repayment threshold.

I’m on the same page as Al (different Al) above. I could live without a credit card if I had to, and most people should be able to do the same if the ultimatum presented itself.

Thanks for the great post and link to the PBS show CC! Really makes you stop and think!