Let me say this right off the bat; credit cards are trouble. The average American has credit card debt of $8,000 (some contend it’s closer to $2,000) while the same average Americans have a negative savings rate. This means a whole lot of people are out there buying stuff they simply can’t afford.
Credit cards are the worst possible financing option available. Credit cards are high-interest loans. Can you image financing a car at 18% interest? But people finance much less significant purchases at these kinds of rates every day. It …