When I went off round the world I put credit on a couple of them and as a result have $20k limits on those.
That said I haven't used one for anything in over 2 years (and more importantly nor has my wife). I keep them solely for emergencies - say I get run over in the States and need medical treatment - a couple of platinum credit cardswith $40k credit on them might pay for a couple of days before my insurers can confirm cover
I'm old school with money - I'll go into debt for an education (which can include travel in its broader sense) or a house but never for depreciating assets like a car or clothes.
I think going into debt for an education and stuff like food or even a holiday before you settle down to 40 yrs of work is OK especially if you know you have a good job lined up at the end.
It's those folks in work that are using it to live beyond their means that are in real trouble.
Statistics: Posted by excession — Tue Mar 07, 2006 11:32 am
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