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Originally Posted by funnyvalentine
credit is appropriate for long term, large purposes, not for everyday expenses.
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I disagree. I believe just the opposite. Credit is most appropriate for short-term expenses and should ideally be extended only short-term. Obviously, paying the balance in full each month is best. Getting cash back if you are able, as in Sweeps example, is a plus.
Buying a home is the exception. That's a long-term, large purpose that for the vast majority of people requires credit to purchase.
This instance with Bi-Lo is not a question of the use of credit, however. Though perhaps not as bad, it is akin to title loans and payday advances in the sense that this particular credit offering has terms that are terrible. I especially think it is terrible how they are attempting to portray this as a valuable service to the consumer. It is simply an easier way for them to collect fees and a means to generate revenue.