Saying No to Credit Cards in a Tangible Way

Credit cards. We’re awash in them as a society, and our exposure to them often starts in college (if not sooner). The day you get your first credit card, you join a system of credit and debt that can financially eat you alive if you’re not careful. I have nothing against the idea of credit cards – I use one constantly myself, paying it off every payday. And recently we used our card points to book a trip (more on that later). What I object to though is how credit card companies market their products: they send out those “you’re approved” letters, tempting people with credit problems.

Credit cards are a tool in your financial toolbox, but they’re a little like juggling a chainsaw. One or two are manageable, but if you try more than that, odds are you’re going to lose a hand (financially speaking).

Credit card companies are data-driven. They know that for every 1000 applications they send out, they’ll get a certain percentage of completions. Of the ones that get approved, most of them will turn into incredible profit generators for the company; most people don’t pay them off every cycle, and only accumulate more debt over time. But what if it became significantly more expensive for credit card companies to gain new customers this way?

My solution is simple and shown in the image above: rip up the credit card application and send it back to them. They have to pay for postage, so this costs you nothing.

corporate-credit-refusal-2

Credit cards are financial tools that should be available for financially mature adults who can use them responsibly. They should not be dangled in front of every like debt-candy.

If we all make it more expensive for credit cards companies to run unsolicited marketing campaigns like this, they might do it less often. Yes, I know it would take huge numbers of these going back to them to change their behaviour, but you have to start someplace. 🙂

 

I had fun busting out the ol’ #Yeti for a guest spot on a podcast. More details later!

I had fun busting out the ol' #Yeti for a guest spot on a podcast. More details later!

After two years of waiting, #ThingCharger is finally a reality! Here's hoping it works…

After two years of waiting, #ThingCharger is finally a reality! Here's hoping it works...
Posted by Instagrate to WordPress

I'm excited to finally get my @zoltcharger – really impressed so far!

I'm excited to finally get my @zoltcharger - really impressed so far!
Posted by Instagrate to WordPress

Watched the highest-grossing movie of all time today, and threw down $20 on the largest lottery jackpot in history. It seemed like the appropriate thing to do (I buy lotto tickets twice a decade).

Watched the highest-grossing movie of all time today, and threw down $20 on the largest lottery jackpot in history. It seemed like the appropriate thing to do (I buy lotto tickets twice a decade).
Posted by Instagrate to WordPress

The most unique Christmas gift I received was a #Munchpak snack subscription. It’s fun to taste snacks from other cultures! Reminds me of my #HTCelevate days when I’d get global taste packs from #HTC fans…

The most unique Christmas gift I received was a #Munchpak snack subscription. It's fun to taste snacks from other cultures! Reminds me of my #HTCelevate days when I'd get global taste packs from #HTC fans...

This is what #Elvis meant by a “Blue Christmas” right? Side note: funny how more are coming in a black case.

This is what #Elvis meant by a "Blue Christmas" right? Side note: funny how more are coming in a black case.

When I first saw this package, my brain read it as LORDS OF PECAN, so that’s what I’ve been calling it all week as I’ve been eating it. That, my friends, is an epic name for #icecream. Also, a #heavymetal band that bakes pies.

When I first saw this package, my brain read it as LORDS OF PECAN, so that's what I've been calling it all week as I've been eating it. That, my friends, is an epic name for #icecream. Also, a #heavymetal band that bakes pies.

Evolution of trackpad size. On the left, a 2015 Dell XPS 13. Right, a 2007 Dell XPS M1330.

Evolution of trackpad size. On the left, a 2015 Dell XPS 13. Right, a 2007 Dell XPS M1330.

This is what real #TexasBBQ looks like at #PecanLodge: deep-fried beef ribs. Thank you @johnstarky #Meatatarian

This is what real #TexasBBQ looks like  at #PecanLodge: deep-fried beef ribs. Thank you @johnstarky #Meatatarian