Credit is a financial tool that I use to my own financial advantage. (But given the interest rates these days that advantage is almost non-existent.) See also @nicknotes' comment.

Like all tools, it can go wrong if not used safely; think of guns and motor vehicles.

If we're talking about a credit card, then a person can abuse the possible amount of money he can withdraw. It used to be that aristocrats, too, lived in constant debt only at the expense of their noble family name and didn't know the measure of their needs. But now, people take out loans for a specific expense. For example, you might take out an involuntary loan to buy a laptop for work if yours broke down. People also take out loans for something else. When I took out a mortgage on a house, I went to Mortgage Advisor Sunderland because I knew I couldn't buy my house any other way anytime soon. This decision allowed me to finally live comfortably, even though I needed to pay off the money I used to spend on rent.

Disagree. Credit is many things, and is misused by many, but is essential for many as well.

I have a credit card that gives me 2% back on Everything, (even PayPal & Amazon purchases) pay the balance in full every month and pay No interest, none. Been using it for over 2 years now.. I think it is a fine tool!

I have a credit card that I pay off 90% of the time every month. Couple years ago I checked and I paid a total of $612 in interest in the last 10 years. I charge everything on it every month. All of my monthly bills are paid by credit cards and I buy all my groceries and other purchases with the credit card.

because of all of those credit card points I've been to Europe three times in the last 10 years using those points. I hope to go again next summer on points that I tried to use last March.

I've never had the money to buy a house without a loan but I've always tried to pay more than the payment and I paid our other house off in 20 instead of 30 years despite refinancing it once to add an addition.

Credit can be used responsibly and is necessary for most people without an inheritance.

I have had one (only) credit card for 40+ years, and have used it less-than 10 times in the last 20+ years. For a lot of folks, the purpose of a credit card is to spend money they don't have. I'm not one of those sheeple.

Necessary evil, try getting cancer and not having credit.
At the point you become ill, your fortune has been squandered because our countrymen are too greedy for national health care, and they'll go broke as well unless they're lucky enough to die quickly.
Medical bills keep me doing sleep overs in my car.
I was unfortunate enough to survive cancer, and that's the most American thing I've said all day.

I use a credit card but pay the balance in full every month. But a mortgage is necessary in purchasing a home.

I partially agree. There are times you get stuck and credit can give you a hand. However, you have to watch it, not only because of the interest charged but also not to allow yourself to depend too much on it or else you can get stuck. It depends on the situation. Fortunately, I got free of credit and debts last year. Hopefully, if things go well, I'll never use that option again.

Cheap credit can be a useful tool in business. But the old rule, that you should never borrow more than you have easily transferable assets to pay back is a good one. In other words if you want to put up a market, and you borrow money to buy the land to put it on, that's fine. Because if it all goes wrong, the lender gets the land, so they loose nothing, and you are not in debt without income to pay for it. Everybody happy.

But if you borrow money in private life to buy goods, like white goods for example, which loose value quickly, then you are a gambler, and like all gamblers you will probably crash someday.

My father said to watch out for those "easy monthly payments." Neither a lender nor a borrower be.
That said, there are times a well-calculated loan can be a life-changer.
Agree?