As a general rule, I’m with the Wiz on not assuming debt for day to day expenses, namely credit card debt. But I think he’s way off base in targeting the pay it off every month crowd. Credit cards are convenient for tracking costs, but so is a debit card.
Also, I think he’s off on the points/rewards issue. Of course, it depends on the card and the reward system. I personally use the Amazon credit card. I get 1% back on all purchases and 3% back on all Amazon.com purchases. I also use Amazon Prime so my shipping is free. I also use their subscribe service and frequently purchased items are sent to my house on a schedule. So, I never have to go to the store to buy deodorant. It just shows up when I need it, I get rewards for it, and I defer paying sales taxes on it. Additionally, my money draws interest for an additional 30 days while it sits in my account. There’s no interest on my credit card so long as I pay it off. And that is a good deal.
It’s rather like a few years back when we bought my wife an SUV. You see, I didn’t really want a car payment and would have preferred buying the vehicle outright. But the interest rate on the dealer financing was less than I would draw on my savings account. So, I financed it. After the economy tanking, you don’t see those deals anymore.
I respect the Dave Ramsey school of thought on managing money. But one thing that’s lost on the Ramsey acolytes is that, generally, you can’t make much money by saving money.