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The article is arguing that they don't get credit cards to begin with, not that they don't want to get into debt. Credit cards are valuable tools since they:
by pbarnes_1 10y ago
The article is arguing that they don't get credit cards to begin with, not that they don't want to get into debt.
Credit cards are valuable tools since they:
1. Offer all sorts of insurance/protection.
2. Lump multiple small transactions into one monthly debit from your checking account.
3. Offer a 30 to 55 day interest free float.
The issue is that some people have no self control. Once you start missing full balance payments all benefits are pretty much negated.
- antisthenes 10y agoHonestly, that's all this argument ever boils down to. "I don't use CCs because I have no self-control" It's also easily solvable by getting a credit card with a low transaction limit (say, $1000), but people who have no self-control generally aren't interested in solutions.