Are Credit Cards Drugs?

The amazing thing about revisiting this Pay Off Your Mortgage Challenge is that I can reflect on things that were not obvious to me at the time. I knew how annoying credit cards were to get rid of and I knew the system was designed that way to ensure the banks received a maximum ROI ( Return on investment ) on every card they dished out.

My question is, WHY is it so impossible to entertain the thought of life without a credit card to reach for every time you feel like buying something new, booking a holiday, having something you want now and paying for it later?

I have never smoked, I would never take drugs of any kind but I am partial to a glass of fine wine. However I would suggest that impulsive purchases on a Credit Card are in a very similar category to drugs and addiction:-

1. People have a NEED for them, a dependency to make themselves feel richer.
2. People tend to overlook, forget or do not want to add up how much they spend on Credit Cards in a year
3. If you try and go without them in your life, even for a week you will experience some kinds of "withdrawal symptoms."
4. They are notoriously difficult to give up once you start.
5. If left alone over a long period of time, they can lead to ill health, stress, worry and depression.

Now I am not sure about you, but if there is a warning placed on a cigarette packet that "Smoking Kills" I would ask why there is not a similar amount of caution attached to borrowing on credit cards.