Should I stop using credit cards completely?

Since so many Americans got into financial trouble and lost their homes to foreclosure, there has been a lot of talk about being financially responsible and controlling senseless spending but some ideas that are pretty stupid are also catching fire, like, abandoning credit cards altogether. Not only will you have a hard time renting cars or making reservations for hotels, you will always need tons of cash if for some reason the debit card does not work (not all businesses will accept debit cards).

I cannot imagine why anyone would NOT want to use credit cards. They are simply awesome and I am not being sarcastic in saying that. Thousands of dollars loaned out each month for free and then you get all those airline miles, plus there are all kinds of perks to use those miles to travel for free, use executive lounges, upgrade to business class, and the list goes on and on — I say this because I use my miles to get all kinds of freebies. Plus, you have a very high credit score and that brings many other benefits and thousands of dollars in savings through low interest rates for mortgage, car loans, refinancing or for credit cards.

The simple trick is to pay off your balance in full each month. In other words, use a credit card for convenience (I wouldn’t want to haul thousands of dollars in my wallet to pay for a trip to St Maarten) and not as a way to get money that you really don’t have.