let's start a list

a few weeks ago i watched the documentary maxed out. the film examines this nation's attitude toward credit and debt as well as specific aspects of this industry. it was marvelously made and, at times, quite unsettling. especially troubling was the information presented on the tactics of credit card companies and debt collectors (who thrive hand in hand) who prey on vulnerable people, some of which have basically no chance of ever escaping debt (short of death). but the most tragic story in the film was shared by two mothers. each had children who went to college and were offered credit cards during campus orientation events. the students got cards and began charging. they quickly amassed considerable debts. the interest set in, and they saw no way to pay off their debt. they viewed death as the only way out, and they took it. they each committed suicide.

now certainly you might think these stories extreme, and perhaps they are. but they are not uncommon, and they expose severe problems with this nation's attitude toward credit cards. we live in a society in which one practically must have a credit card. without one, there's no way to establish credit. without credit, there's no way to buy a home, and to buy a car or any other significant purchase (even basic utilities) costs more. they are a necessity now. of course, just because one must have a card it doesn't follow that this person will get into trouble with debt. but, it's considerably easier than you might think. you could be a very responsible person who always pays your balance on time. but accidents happen. what if you're in a car wreck with someone who has no insurance, and you miss work for several weeks. if you hadn't been able to save lots of money before the wreck and you have no wealthy family to fall back on, what might happen?

credit cards are a necessary evil it seems. but i think we can do a lot to curb some of the damage they do. at the very least, they should be far less accessible - especially to people who clearly have not established any kind of ability to make payments on them. they should never be offered on college campuses, and leaders at universities should fight to keep them away and educate students about the real risks involved in having credit cards.

i've all but given up hope on the government passing laws that are beneficial to us, but here's one i've thought up: how about a registry for people who don't want to receive credit card offers? i receive probably ten a week. i never ask for them. i don't want them, and i immediately rip them up and throw them away. such a system serves no good purpose. if people want a credit card, they can very easily apply for one. but sending applications or statements of pre-approval only wastes tons of paper and exposes people to identity thieves (another dire problem you'd think we'd want to end). this practice doesn't help us at all; it only helps the companies. but why care about them when they don't care a thing about you? oh wait, i forgot, they do care about your money.