More popular than ever, the credit card is our first choice when parting ways with hard-earned pay. Its ease of use encourages impulse buying, a boon to both economy and consumer alike. Sadly, there is another side to the credit card. That's where you'll find the security code. Also, the dark cloud of revolving debt looms large in our society. The average card holder is thousands in the hole. It's time to end the stigma. Let's be clear: there is no shame in being in debt. It just makes you a social pariah, that's all. And a lousy provider for your family.
We asked the man on the street for his opinion. He replied in favour of the pill, but within the first trimester only. He then expounded his views on the credit card: "I'll embrace the credit card today, but will it still fund me tomorrow?"
The present system was dreamed up by Frank McNamara in the fifties. One evening he found himself in a restaurant without enough money to pay. After calling his wife to come bail him out, he reflected: "We need a system where people the world over can be bailed out by my wife." McNamara's wife did not share his enthusiasm, and so he compromised his vision by inventing the credit card instead.
McNamara had to call his wife to bail him out. Before she arrived, these three were hidden under the table.
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