The Credit Card Culture

I recently accepted a number of gold card applications, just to stop them from mailing me applications. Now I have a couple of gold cards. I figure I’ll cycle them, accepting new ones as long the postage is pre-paid, and cutting up the old ones with bad interest rates. I think the ‘credit card culture’ is a major problem with this country (U.S.). When you want to live beyond your means, charge it! Sure you’ll be paying outrageous interest over the next few years, resulting in a lower standard of living over the long run, but this is instant gratification!

This just goes to illustrate one of my favorite points: people are stupid for giving me credit cards. I’m not going to pay them and in 7-10 years, you’ll be holding the bag as creditors forgive my mistakes of accepting such a high interest rate. Unfortunately I’m not a home owner, so a lot of this “bailout” money isn’t going to increase my bad credit by giving me more lines of credit, more payment options, or even forgiving payments entirely. I’ll leave that to the bad credit pros. I’m only one man.