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Let's talk about credit cards...

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Quote Originally Posted by asurfaholic View Post
I see what you are saying, but you are kind of implying that everyone who uses credit cards is immoral/dishonest.

This is simply. Not the case.

There are 2 examples from my own personal experience that maybe can make my point. For one, my wife and I like to go on vacations annually. One thing we do throughout the year is accumulate savings through unconventional means, one of which is rack up rebate points on our credit card. We use a credit card for most of our purchases, then pay the entire balance monthly, never paying interest, instead in effect getting paid. We can't do that with our debit card. This is responsible use of a financial tool we have at our disposal. If you have a screw that needs turning, do you use your fingers or a screwdriver?

The next example is a business aspect. I am a foreman at an electrical company. My boss can not, and will not micromanage his employees, and leaves the entire function of buying things for the job up to me. I am not going to fork my own cash over, I routinely spend lots of money, so I have to use company money. Should they give me a cash allowance? Not smart, potential for abuse, it might limit me, etc. No, they give me credit card so i can make purchases when i need, while they get a statement of what i spend. The credit card company pays the bill instantly, and the company pays the combined bill monthly, usually giving us time to be paid by the customer.

A system of credit, used responsibly is a good thing. I don't believe all credit is bad, although there are marked times in our history that shows that abuse of credit can be devastating to the country and economy. Unfortunately, the answer has always been to give more credit and power to the largest creditor in the world. If we want to end bad credit, we need to rally behind "end the fed". We need to be strong advocates of sound money, and educate people every chance we get.