jloucks
Well-Known Member
That is immediately what I was thinking. If you use a credit card, you are "in debt" until you pay it. The article was sloppy in that it did not immediately and clearly define what debt meant here. Almost exactly in the middle, it finally did. ...at least 3 months to pay off (and therefore paying interest).What I’m curious about is if they count using a credit card to pay for things at Disney to be debt since technically it is.
However in my case it’s paid off before the statement cuts, so is it really debt? I pay no interest and no annual fee, so I consider it a way to spend 3% less at Disney thanks to cashback.
At least, that's my basic interpretation, it was not super clear even then.
The spirit of the article is that debt is bad, and debt is bad because of interest exceeding income from the loan. So, no, I do not think a debt that is paid off before interest accrues is not debt in the spirit of this article.
I mean, like, 100% of us charge our trips right?