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Reply #26: Indeed [View All]

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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-30-11 08:27 AM
Response to Reply #13
26. Indeed

However, many people think that today's consumer lifestyle is normal. It is all they have been used to and have never known what it is like to do without. Heck, many young people just whip out their credit card for instant gratification for anything.

I was early-thirties in the early 1980s before I could get a credit card in my name. I had gotten a good job as a computer programmer making $16,000 and I wanted a credit card. But I was told I didn't work there long enough and to come back in 6 months. Six months later, I was told that I didn't make enough money.

I was then told to buy something with '90 days - same as cash'. For the youngsters who don't know what that is, something is bought at a store using their terms for 12 months which included interest. A payment book is received, but if the item is paid back within 90 days, there is no interest charged. Fyi - I bought a $100 bicycle.

I received my own credit card, but it took a year.

It was only 10 years later when my kids were in high school that they were being sent applications for credit cards.

Perhaps the paradigm of easy credit should be re-thought also.

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