Another Cause of the Financial Meltdown

I went to the bank after school today. I usually go on Tuesdays before tutoring, but I was in a hurry yesterday and so I waited until today. Since my Wednesday schedule is different from the Tuesday, I also went to a different bank branch.

The teller I got, though some brand of African native, spoke English surprisingly well and provided very responsive service. After we finished my transactions, she asked eagerly if I had a credit card. I told her that I did not, since as a matter of something like principle I don't use credit cards. In fact, I have never had one.

She went on to tell me that there was a very good credit card offer waiting for me, which would give me 9 months of zero percent interest! She said I should certainly think about getting one.

Now this is disastrous for at least three reasons:

1) Wells Fargo knows that a credit card will benefit only a tiny percentage of their customers, yet they offer one to anyone who can even remotely be considered solvent.

2) Wafa (the teller) has no idea that she is participating in the financial enslavement of her customers.

3) The U.S. economy is where it is largely because people are in the habit of spending what they have not yet earned -- borrowing from tomorrow to play today.

So I listened politely and then told Wafa that I didn't think I wanted a credit card today. And I went away burdened for the many people who will think that they're receiving a compliment and sign up for that credit card right away.