They must be everywhere, according to the blogosphere, but I just can’t seem to find them.
A post at Get Rich Slowly inspired me to ask. The post is titled “How I Got Suckered into Opening a Store Credit Card,” and it reads like some D.A.R.E. propaganda piece about how kids will try to con you into drug use. The horror!
Dude, I don’t get it. Maybe it’s because I’ve always been a saver, but I can’t find it in my heart to fear credit. In fact, I’ve seven (7!) open credit lines, and I’m pretty sure I could charge up more in a day than I make in a year. Last Friday I had to stop myself from opening another because of a super-tempting 0% for 24 months deal. I passed it up, but I really didn’t want to.
But yet, even with a credit addiction, I haven’t found myself in cash crunch. I have high balances on some, but the cash to pay them off (I love 0% BT offers :D). I have a habit of infrequently buying things on Amazon that I don’t REALLY need, but I’d do it with a debit card just as I would a credit card. I just feel that sometimes things are really overblown. Credit cards are #1 on this overblown list, followed by international terrorism, breast cancer, nuclear power plants, and December 21, 2012.
Credit and debt can be two things: they can be something meant to empower you, and they can be something that necessarily enslaves you. On the internet, all credit is debt, and debt is slavery.
I see the other view: credit is flexibility and debt is leverage.
What about you? How do you see credit? Are you a no-go at any cost? Are you willing to use it? Do you embrace it, or do you neglect it?
Is debt a tool, or is it a handicap? I want to hear your view!
P.S. – Back on track with a post tomorrow about why the internet bubble 2.0 is just as bad as the first one, if not worse! You won’t want to miss it.
Photo by: Nzgabriel