Originally Posted by mamamilkers
The only way I will disagree with this is that if someone gets ahold of your debit card number they can drain your account dry before you notice it and you have nothing. With a credit card, at least they're not touching your actual bank account.
This recently happened to a friend who shopped online with her debit card-- the number was stolen and the person drained their account and they had a horrible time getting it all straightened out. She was advised to only shop online with credit cards from now on.
This is why I only use my debit card for emergencies. I'm so afraid of something like that happening. Even if you eventually get all your money back, while you're waiting, you've got nothing! (Well, at least, we'd have nothing.)
At our absolute worst, we had a combined total of $35K in debt (most of it was CC debt, though there was a small student loan as well as a nasty tax error that was NOT in our favor, to the tune of nearly $6K). In less than 5 years we've paid that down to under $9K, paid off two cars and bought our house. We've got very good credit (believe it or not!), so we've been able to keep the balance moving around to CCs with 0% APR or something nearly as low. We've still got about $8,800 on a 0% APR card and put as much as we can on it when we have little windfalls, but right now my DH is unemployed, so we're just covering the minimum. We'll be moving it again in December to another card to keep the 0%.
I'm in awe of how many of you have no debt as well. We're working hard toward that goal. We still use our one main card for everything we can because we get such great rewards on it (that's how we've covered Christmas for the last few years, and some small home improvements), but we pay it off every month.