[whd23]

Ramsey is using common sense priniciples, that do apply to most people in most circumstances.

So, your appeal to your own circumstances do not discount his message at all.

And it is irresponsible to claim that they do.

Not at all. Dave's position is black and white: nobody should ever have or use a credit card. Period. He leaves no room for responsible use of credit cards as a financial tool. All I've done is point out that they can be used by financially responsible people safely. If you feel that that doesn't include you, then by all means cut up your cards.

But Dave's strategy is a poor choice for people who are financially responsible since it removes a useful tool from your financial toolbox.

[CSM]

OK, after thinking more about it what benefit does a credit card off that will be worth it after the risk of dealing with snakes? If I save for a purchase, or take it from my savings account, then I know that there is zero risk of overspending, not paying the balance, having the terms of the credit change, etc. etc.

So, what benefit does this “financial tool” offer that outweighs the additional risk? How can a credit card allow for wealth building with less risk than the use of cash?

I can guarantee that I will not be impacted by any credit card legislation, change of interest rates, etc. Just like I know that 100% of all foreclosures are on homes with mortgages. In other words, Dave's plan is guaranteed to bring financial peace, what does using a credit card offer with the same certainty?

[fortheDeclaration]

Not at all. Dave's position is black and white: nobody should ever have or use a credit card. Period. He leaves no room for responsible use of credit cards as a financial tool. All I've done is point out that they can be used by financially responsible people safely. If you feel that that doesn't include you, then by all means cut up your cards.

Actually he does leave room for responsible use of credit cards.

He just maintains that it is very unlikely that one will use them responsibly.

What you have pointed out is an exception that does not prove anything.

Moreover, you have not proved that credit cards were the BEST means to handle your situation, only that you did use them.

But Dave's strategy is a poor choice for people who are financially responsible since it removes a useful tool from your financial toolbox.

He is not giving personal advice as a financial consultant, he is telling people how to get out of debt.

Your posts remind of someone who, when told of the health dangers of smoking, bring up their 90 year grandfather who smoked 2 packs of cigarettes a day for 80 years.

[samiam1972]

“But Dave’s strategy is a poor choice for people who are financially responsible since it removes a useful tool from your financial toolbox.”

It’s generally the people with financial trouble that are listening to Dave. His advice is very smart for those trying to dig themselves out of debt. Worrying about stupid points on a credit card is not the smart way to go. Maybe when you’re no longer in debt it could be something to look into but for the average person it is not worth the risk.

[fortheDeclaration]

Also, I checked his website where you cited that comment on using credit cards responsibly, and it had a number of comments agreeing with you.

[CottonBall]

Not at all. Dave's position is black and white: nobody should ever have or use a credit card. Period. He leaves no room for responsible use of credit cards as a financial tool. All I've done is point out that they can be used by financially responsible people safely. If you feel that that doesn't include you, then by all means cut up your cards.

That's exactly why I don't bother with his steps. Well, mainly because I've never been in out-of-control debt either b/c I'm frugal and responsible by nature. He has some good common sense advice, but the lack of alternatives I don't like.

I've been using credit cards for decades now. And haven't paid one penny in fees or interest, but have gotten back hundreds in cash-back bonuses. But the main reason I use them is ease - I get to pay one bill per month vs. dealing with cash or lots of checks. For those of us that realize that using a credit card is the same as spending cash, we just pay it off later on, it's no different. I don't spend any more b/c I'm using a card. And I know how much I owe with every transaction (I'm rather OCD that way, keeps me happy)