You might benefit from using credit cards because you really don’t need them, but that isn’t the average person. Many people have become credit card junkies because that’s essentially what the card issuers are going for. Buy now, pay later. Easy monthly payments. Periodic increased credit limits. Skip a payment. Zero interest for six months on balance transfers. OK, so the last three are practically history now, but I think you get my point.

The idea of paying by credit card-for what ever purpose-is a contradiction in terms if the point is to gain greater control over your finances. The credit card system is set up to facilitate sales and earn money for the lenders, not as a money management tool for the borrower.

If you pay by cash, check or debit card, there’s far less chance of a debt overhang than there is with credit cards.

After the great credit boom of the past 2-3 decades, people have been twisted into believing that credit cards are some sort of money management tool for the customers benefit. Nothing could be further from the truth. They’re to facilitate our buying things (that we often can’t afford) and so that the banks can collect fees on both sides of the transaction for extending us the priviledge.

This post looks like it was exhaustive to write but it’s right on the money. Well done!

To elaborate:

All any of us can do is change everything we dispise at ground zero… ourselves. If all of us do this it effects global change. More importantly it effects change in our country, state, community, church, and family.

It’s when it comes to business that, in reality, my position will likely not have an effect. I tend to look at this as a realistic point of view, rather than pessimistic or apathetic. It’s a problem with greedy, irresponsible, and uninformed people that creates a credit mess. For as long as we’ve been on this earth, these three types of people have been with us. Unfortunately, they make the world a harder place for many of us to live in. But I can’t change their hearts. They will do as they please.

It’s too bad that so many people think this way.

My bank, USAA, actually requires me to have a credit card for a very understandable reason. It’s branchless banking. I don’t take my checks to the bank to make a deposit. I simply scan them in on my home computer, or use my iPhone to deposit them. As you can tell, there is a high risk of fraud here since the money is available immediately. I’m definitely okay with having this card (which is my only card) for the convenience of scanning my own checks and having the money available with no wait. The credit card gives them the opportunity to charge your card if you deposit a bad check and spend the money right away.

The rewards program is amazing. My wife and I will be able to travel nearly anywhere in the world by our 5th anniversary because of our rewards points.

Unless I can find millions upon millions of people that are willing to join me in overthrowing the credit industry, I will continue to use credit cards responsibly. Like prescription drugs, only people that abuse it will be negatively affected by it on a personal level. On a global level, I alone can make no difference.

My rewards program is truly free money, since I am subject to the increase in product cost whether I use credit or not.

GOP was mentioned – I would like to say a few things about that.

I am affiliated with neither party and am aware that the entire Republican/Democrat “two-party” debate is utter hogwash. It is nothing more than a distraction to keep the American people occupied while the important issues continue to occur seamlessly, regardless of party, and with no media coverage.

To prove the point… Dems have not reversed any of the financial industry changes the Rep party made while Bush was in power. Quite the contrary, they have expanded upon the mistakes.

I am neither Republican or Democrat. I am American, and both parties are full of stink and their corruption is as rottenness in the bones of our “Republic.”

Thank you for your great and thoughtful comments.

I’m glad you recognized it early and are turning things back around. Nice work.