There is no doubt that a credit card crisis is hitting our nation with credit card companies pulling in over $90 billion in interest and $55 billion in late fees in 2006 alone. But what is driving this crisis? It is easy to place blame on the credit card companies and their unethical practices. However, it is uncontrolled consumer spending that gives these companies power over consumers. Our society has grown into a culture that spends more than it earns and the only way to do this is with debt.

Today's society is no longer trying to keep up with the neighbors but is instead trying to emulate the rich and famous. Advertising focuses on status symbols - a huge house, big screen TVs, fancy cars, and countless other things that many can simply not afford. Problems are compounding now that the housing market has turned and home equity loans are more difficult to land at favorable terms. Credit cards have become one of the only remaining solutions for consumers - and this fact is being clearly reflected in bank statistics released earlier.

Instead of lobbying for changes at credit card companies, perhaps people should take a closer look at their own spending. Those experiencing problems right now should seek help through a credit counseling or debt negotiation service that can help reduce debt and get you setup on a smart spending plan. In the end, it takes two to cause problems and it is best to take action yourself before waiting on credit card companies to reform their practices.