Credit cards

My grandparents never had credit cards. Never bought anything on credit except their house. I'm pretty sure they didn't even buy their cars on credit.

But times changed. Eventually they were forced to get a credit card because it became impossible for them to do things like reserve a hotel room without one.

At least now you can use the debit cards that have a credit card number but draw from your checking account.

It is a good idea to have at least one credit card and to use it a little and pay it off every month IF you can be disciplined and not overspend. Building your credit history is important in today's world. Plus it gives you a little flexibility in case of an emergency where you really need some extra money.

If you are really afraid you won't be disciplined with it, get 2 accounts. Have one with a small limit, so you can't over spend. Have another with a bigger limit that you do not carry with you and do not allow yourself to use, but it is there in case of emergency.

My husband and I have only had problems with this one card. We'll be keeping one of our others open after all are paid off but this one has already been cut up. There are some websites even talking about this company o.O Pity we can't have a BOI for credit cards :D

Credit is a game. The biggest mistake that people make, is not reading the promissory note that they sign to take out credit. Or taking out too much credit that they might not be able to afford to pay back. I think that there is dishonesty on both sides. CC companies can and do prey upon the lower-income population.. and people who take out credit try too hard to live outside of their means.
I work in collections. I am not a frontline collector (usually) who talks to people for the first time, but I work with payers; setting up pmts. over the phone, etc. I work out a lot of settlements with debtors over the phone. I am not a person that gets nasty to people on the phone, but I have been through the wringer and we all snap sometimes. Like the guy who called me every name in the book and demanded that I stop his interest! We don't even apply interest; the guarantor does.
Would I advise people to never take out credit lines? No way. How else is the average joe going to get a car.. house.. etc? Now.. I say, do it responsibly. Flashy items like bigscreen TVs and trendy clothes are foolish things to max a CC out on. Buying a few useful things that you know you can pay for in the next few months.. that is great. Taking out $5K for a frivolous thing like car-rims? LOL..
This is just how I think, based on having been on both sides of the issue. Am I a debt-free collector? LOL.. no way.. car loan. CCards. Future mortgage with my hubby. Our backup plan? Life insurance on each other. Pay off debt with that if it comes down to it. Or sell off assets.
Anyone who has overabundant assets and a lot of debt, is doing something wrong. Assets are rewards.. not something to put money into when debt lingers. I am stunned by how many of my debtors own paid-for boats, vacation homes, luxury vehicles.. and then tell me that they can only pay $50 a month on their 5K-plus balance.