Dear Liz: I was surprised to see your recent comment that “having a credit card does not make you a slave to lenders, unless you’re stupid enough to carry a balance.” So, all individuals who carry a credit card balance are stupid? Is that what you are trying to say?
Answer: There are a few legitimate reasons to temporarily carry a credit card balance. If you suddenly lose your job, for example, you may want to conserve your cash and pay only the minimums on your cards.
But for most people, carrying a balance is a sign that they’re living beyond their means. And that’s pretty stupid.
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