[shas3]

Many people do not have a choice over taking on credit card debt, in at least two ways:

1. Expenses over which they have little or no control, like health, addictions, etc.

2. Behavioral modifications are necessary to get out of debt, and often that is more than just a simple choice that people can easily make. The allure of credit cards for banks is that too few people are thoughtful enough to know that borrowing from the future is equivalent to spending money in the bank, unless you are anticipating an increase in your income, etc. So in a meta sense, they don't have a choice over how wisely they use their credit cards.

[Swizec]

> The allure of credit cards for banks is that too few people are thoughtful enough to know that borrowing from the future is equivalent to spending money in the bank

Which is why I take full advantage of that 1-month $3k interest-free loan the bank is giving me, while keeping the $3k in a savings account which does have some positive interest. It's not much positive interest, but it's some.

Micro optimization, yes. One I can only afford because I have that money anyway, yes. But it makes me feel so shrewd and that feeling makes it worth it.

[matwood]

If you have a cash back card or one with points, you could even say it's more than a micro optimization. I put everything through a credit card and pay it off monthly. I get protections offered by the CC company AND cash back or travel reward points. A little discipline goes a long way.

[Swizec]

> A little discipline goes a long way

Well I have one of those credit cards that stops working if you don't pay it off at the end of the month. So it doesn't even require that much discipline. Just some cashflow management in that I have to make sure that there is money on the bank account before the credit card charge happens.

[bmm6o]

That may be true, but it hardly supports the claim (at the start of this subthread) that it's ok for a fine to be like a credit card balance. At best it's an irrelevant tangent.