So much of this is the product of lifestyle branding and hardcore propaganda from those who want to keep their free lunch. Banks still are the most profitable companies on the planet, they are insured by the government. If a person falls on bad times, it's not the end of the world to declare bankruptcy.
Credit does have it's purposes of course, best when it's being used to hedge a bet on some kind of promising business venture where it can lead to money being made. But for consumer goods; It's best to stay away from it completely, life is too short to be groveling at the feet of some Shylock.
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