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No...that is what Debit cards are for. You can use a debit card like a credit card...except of course the money is immediately removed from your account. Debit cards are accepted everywhere the same as credit cards.
People use credit cards because they don't have the money in the bank.
Did you not look at the chart?
American debt is unbelievable. If people were paying their balances off - we wouldn't be in this shape no would we?
Whatever American debt it, it's a fundamental and critical component of our economy. People need to borrow/people need to lend.
If more people were borrowing and lending we would not be in the shape we are in now.
People use a credit card instead of a debit card for several reason.
1. I like my rewards points on my credit card
2. I don't like to keep alot of money tied up in a checking or savings account, so I use the credit card as a way to smooth the ebbs and flows of cash over the month.
3. The wife and I share a checking account, but I barely touch the thing except to pay the bills and credit card bill and that all happens on one day out of the month.
I see no compelling reason to use a debit card instead of a credit card. I just pay my balance at the end of the month. And in the odd month where I carry a balance it's still better than using the overdraft.
