Rebutting “Ideas For Living Without Credit Or Debt,” Blueprint For Financial Prosperity came up with 10 reasons why credit and debt can be great. Here’s a good one (and one that we ourselves have made in the past):

5. …credit cards will actually give you protections and warranties just for using them. …if you use a credit card to make a product purchase, many of them offer to double the manufacturer’s warranty up to a year; if you use a credit card to rent a car, many of the offer liability insurance. These are tangible benefits with actual cash value that can save you money in the long term.

Credit and debt are powerful financial tools if used carefully and properly, but one must always be aware that the sword cuts both ways. The point of the original article was to show that, unlike what the commercials would have you believe, you can live a happy and fulfilled life without credit cards, and for those with poor impulse control, there are alternatives. Finally, considering the nation’s current negative savings rate, people could probably use more inducements to not use credit cards than to use them… When is the last time someone came on an in-flight public address to remind passengers to pay off their credit cards in full every month?

10 Reasons Credit, Debt and You Should Be BFF [Blueprint For Financial Prosperity]
(Photo: Sonny-)

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