I’m always shocked when I hear someone say “I don’t want a credit card” or “I try not to use my credit card” so that they don’t spend too much.  I’m the exact opposite: If a store takes credit cards, I use my credit card, no matter the price.  Cash is obsolete as far as I’m concerned.

Today, there is an article on CNN about a group urging a stop to all use of credit cards.  This is like taking matches from an arsonist and saying he’s cured.  The problem is not the matches, it’s the psychotic lunatic setting fire everywhere.  Similarly, credit cards are not the problem but the complete inability of people managing their personal finances.

A responsibly used credit card is a great thing: it’s essentially a month long interest free loan every time you use it.  Not to mention the cash back and other rewards many credit cards offer.