Brian McLane

Media and Social Commentary

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CREDIT CARD CRISIS – VISA’S NEW CREDIT CARD PHONE.

April 21st, 2010 · No Comments · Social Commentary

About 4 1/2 years ago I finally had enough with my credit cards. I was in for like $23,000 plus because I went nuts on Ebay, guitars, trips, dinner and drinks while my wife at the time Nico, would get $500 hair cuts from Madonna’s hair dresser (Henri Bendel). Then I took the smart step of ripping up my cards and going into the witness protection program of finance, DEBT MANAGEMENT.

Together we were making good money, and spending it faster than we could. Life was good – at least we thought. Then the bills came due and we started making minimum payments when I left the law firm I was working at to start StreamAware and we only had Nico’s salary. Goodbye went the gym memberships, etc.

iProgram.tv Take on Credit Card Phone

Click for Credit Crisis

But WAIT – There’s More.

Visa has just introduced the credit card – ON YOUR PHONE. From the New York Times Today….

Visa is introducing a cellphone payment system that is more than sticker-thin. The service is currently available only in Malaysia, but it will be expanded to other countries in coming years.

“Like some phone payment schemes already used in Japan, the Visa service uses a chip on the phone to communicate with a payment terminal. But the latest version is based on a global standard for phones and telephones called near field communications.”

Now I’ll say that if you’re smart enough to manage your finances properly, are Justin Bieber or have the last name Hilton, are independently wealthy or work for Goldman Sachs, you have no worries because money is like salt for you. Spill some, throw some more over your shoulder. But if you’re like 90 plus percent of everyone else, it’s simple. Try to stop buying stuff unless you can pay for it.

What will they think of next? That question is perhaps the wrong one. It’s how stupid will consumers and media slaves continue to be? It’s not – WHY???? It’s GIVEN THE FACT THAT…. then fill in the blank yourself.

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