The more I think about this drug analogy for credit cards, the more apt it seems.
Sure, credit cards are legal, and the credit card companies -- just like drug dealers -- do whatever they can to get you what you want, but they never really come out and say it.
Think of the typical credit card ads on TV: They seem to promote mostly the idea that they are not as bad as all the other credit cards. The new Discover ads show scissors everywhere cutting up cards. The Capitol One spots display the terror of using cards, cards other than Capitol One anyway.
So, why is it OK for me to parade around here saying that using credit cards is a good idea? Well, because it is. To paraphrase Winston Churchill, it's the worst way to start up a new company, except for all of the others.
- VCs want your first born.
- Angels are typically people who had one good idea, and now have enough cash on hand to help you out, except that they're going to be hanging around all the time telling you about how their one good idea was really good, and you should be more like that.
- Banks: puh-lease.
- SBA: Banks with even more paperwork, that sounds like a good idea.
- Family: Personally, I like Thanksgiving dinner, and want to keep it that way.
So, if you have followed my rules, then go out and get some credit cards and live the American Dream.