Are payday loans wise? Is gambling wise? Is drinking and smoking wise? Is doing drugs wise? What about the "buy now, pay later" financial services(basically another form of debt)?. I can go on and on. Some things aren't wise, but many people still do them, and many banks and companies are taking advantage of those people. What do you suggest? Credit cards to be banned? If such thing happens, all the shady "loan sharks" will get plenty of new "customers" and the situation will get worse. Drowning in debt isn't wise, but the world is full of low IQ people, who make financial mistakes and pay the price later.