I'm one of them - got out of extended credit card debt and high interest rates about 17 years ago and don't intend to go back to that black hole where all the money goes. We use our credit cards for groceries, gas, dining out, etc., and pay it off each month. If I needed a lot of extra money for a "loan" I would apply for a loan and get much better rates. If we don't need it, we won't go into debt for it; if we do need it, and can't afford to buy it outright (how much of credit card debt really fits that category?) we won't use credit cards. I really feel for the folks who got into the trap and don't know how to get out, but I find that being responsible with one's finances is the best bet. Heck, we can afford a biiger TV, but we still use the 32" one that is 7 years old. How many folks do you know that have enormous credit card debt and also have the newest cars, latest computers, best stereos and biggest TVs?
We took a huge hit from Katrina, but we can also afford to put things back together over a couple years because we try to be good stewards of of our assets.
Merry Christmas!
Better use would be drinking, gambling, and food....
"but I find that being responsible with one's finances is the best bet."
Tell that to Congress. I love how they pass laws for others who they think spend too much and overextend, while they are the worse abusers themselves.