Roger Horton is back with another Honest Ad from Cracked. The truth about credit cards is that they work well if you use them perfectly. But the credit companies make bank on the fact that people do not use them optimally. Human nature doesn't work that way.
Are there really credit cards that charge 25% interest? I thought mine was usurious at $17%, since my mortgage is 2.5%. Sure, if you have the discipline to never use a credit card for something you wouldn't buy anyway, you'll be okay and rack up a good credit score. And then you'll have credit for emergencies. But it's so easy to get yourself into a debt spiral otherwise. And no one is perfect.