Credit cards can also be awesome spending tools. My parents have had Visa cards for as long as I can remember, and my dad has never missed a payment.

This has allowed him to keep his money for up to a month after he actually spends it. Add that up for 20+ years and you are talking about some serious interest.

Not to mention 10 million Visa miles to fly everywhere for free.

Credit cards can be incredible tools to manage and simplify one's life. However, as with every financial endeavor, they can be a disaster if you are not responsible.