5 Good Reasons To Rack Up Credit Card Debt

credit card debtCredit cards have a lot of advantages such as giving better protection than cash or checks on purchases, but you’ll be hard pressed to find a financial advisor that will tell you that there are good reasons to rack up credit card debt. One thing I have learned about personal finances is that every person’s situation is different and while it is possible to make generalizations in many areas of personal finance, there always seems to be exceptions to the rules. It was while talking with another personal finance friend who made the claim that “there is not one good reason that people should rack up credit card debt” that I bet him I could come up with five good reasons.

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8 Responses to 5 Good Reasons To Rack Up Credit Card Debt

  1. Emma says:

    Wow…those are supposed to be “good” reasons? I guess if a person had no integrity or moral value, these would be be “good” reasons. Seriously dude, credit card insurance? Please tell me you got some better ones lined up….please.

  2. Hustlermoneyblog says:

    I like number 2. Making money on 0% apr BT game is the best. I’m writing on it right now.

  3. Debbie says:

    That’s a very interesting challenge you’ve set for yourself. I like #4 (dying soon) only if you already have life insurance that will pay for this, but of course it won’t pay until after you’re dead.

    I disagree with #3 (medical expenses) because I’ve heard that doctors and hospitals will set up much more favorable payment plans with you directly. You may even be able to negotiate some of the costs down if they know you’re paying yourself.

  4. Jerm says:

    To echo Emma, this should be titled: 5 rationales to rack up credit card debt, assujming a certain mindset such as immoderate risktaking or simple lack of integrity. Really, 1 and 4 border on fraud. The only one I would even consider valid is 3, and then as an emergency option only.

  5. Pat says:

    I’m with Emma. I see most of these reasons as a thin sheet of ice over a disastrous icy pond. The only one I could agree with is #5. And as for #2 … risky??? Why not just rack up the debt in Vegas?

  6. Laurie says:

    #5? Here’s a better was of avoid going away to war. Don’t join the military! It is voluntary remember? Don’t tell me, “the war in Iraq wasn’t going on when I signed up” We have had men (and women) overseas in harms way since WWI.

  7. fractalbrothers says:

    haha, great article. Its been a long time since i’ve seen an article like this that is sure to get everyone’s panties in a twist. Keep up the great work!

    a real reason I can think of to get credit card debt is to get a 0% APR for 12 months card, and buy some sort of security with it so you can make a return on it, then just pay it off before you have to pay any interest on it. free moneys!

  8. vsjhoc says:

    #4 (live for today) doesn’t quite work because you don’t know exactly when you’re going to die. Art Buchwald was given 2 weeks to live when he refused dialysis treatment, but he lasted many months.

    The credit card “protection” plans are worthless in many situations.

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