> Why would anyone ever want debt? We have money to pay for stuff, why not use your money instead?
I don't carry a balance on my credit card, but I still absolutely love it.
Three main reasons:
1. I don't have to "balance" my checkbook and constantly keep track of how much money is liquid. Instead of tracking my checking account's value before making any purchase, I just do a single monthly payment.
2. Security/protection: A merchant screws with me? I'm covered. Something breaks? I'm covered. I don't like something? I'm covered. Credit cards make purchasing totally risk-free.
3. Rewards. Credit cards have provided me with thousands of dollars worth of free rewards.
The rhetoric around debt is a total red herring and totally orthogonal to the use of credit cards. Many premium credit cards are actually charge cards and don't allow carrying a balance at all.
I don't carry a balance on my credit card, but I still absolutely love it.
Three main reasons:
1. I don't have to "balance" my checkbook and constantly keep track of how much money is liquid. Instead of tracking my checking account's value before making any purchase, I just do a single monthly payment.
2. Security/protection: A merchant screws with me? I'm covered. Something breaks? I'm covered. I don't like something? I'm covered. Credit cards make purchasing totally risk-free.
3. Rewards. Credit cards have provided me with thousands of dollars worth of free rewards.
The rhetoric around debt is a total red herring and totally orthogonal to the use of credit cards. Many premium credit cards are actually charge cards and don't allow carrying a balance at all.