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The credit card industry is evil and corrupt. They encourage you to go into debt, especially college students who aren't financially savvy yet... they offer cards freely to people with questionable credit.... and then yelp when people default and ask Congress to enact new federal bankruptcy laws that will make it easier to get their money back.... because they're too greedy to be good, cautious businessmen.
It wasn't like this 20 years ago; credit was hard to get then. But the banks have gotten addicted to the high-interest cash flow, and they want MORE MORE MORE. Tell you, if the economy crashes, big financial institutions are going to fall hard ... because so many of them rely on the outrageous returns from credit cards.
Rant over. Myself, never had a credit card, just an Amex charge card that had to be paid off monthly. Rarely use even that anymore, now that we've got debit cards. No car debt, paid off the mortgage, paying cash for college. It took a long time to get here, but now that I'm a little older and not as employable as I once was, it's a good place to be.
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