Blaming Credit Card companies for our own spending

I always hear on the radio and on television that how the credit card companies have been bailed out by the Government and how they should be blamed for our current economic mess. They charge high interest rates and they should be penalized for that. Most of these ads are from the debt relief companies, who promise to negotiate with the companies to lower your payment or even slash it to half and have a low monthly payment. I am not sure how they do that but I take this information with a grain of salt. I mean if you have put something on your credit card and you have enjoyed or are enjoying that product or service, how you can escape that debt.

The credit card companies can be blamed for excessive interest, but here also the blame is feeble at best, since the card companies are in the business of making money and nobody has forced you to take on excessive debt in the first place. And every thing is spelled out in black and white; it is one’s individual responsibility to manage one’s debt. The interest that the credit card companies charge is mostly based on the individual’s credit score and their debt. If it is excessive, you can always pay it down and shred your card and live on cash only. If you are getting a card, it was you who signed on the application and nobody was there to force you to do otherwise. Blaming the big credit card companies is easier than taking responsibility for acts that you did by your own free will.