Credit cards aren’t evil – if you know how to use them the right way | Gene Marks

T he percentage of credit card balances that were at least 90 days delinquent rose to 13.12% in the first quarter of this year, according to data released in May by the Federal Reserve Bank of New York. As the Wall Street Journal reported: “That’s the highest level in 15 years, and the most since the period following the 2008 financial crisis.” The report went on to highlight cases of individuals drowning in too much credit card debt. There’s no argument that this is a concern. Delinquent credit card balances are rising. And some people are struggling. But are Visa and Mastercard to blame? Credit cards are generally viewed by society as evil. The companies behind them are the big banks and issuers – you know, the ones we love to hate. Their sales tactics can be overly aggressive. The interest rates charged are exorbitant. The stories of people ruined by credit cards go back as long as there have been credit cards. But the reality is that having a credit card and being allowed to make purchases on credit is a blessing for many individuals and for countless small business owners and startups. Small companies lean on their credit cards to handle everything from compensating employees to paying for production materials. It’s why credit card financing remains the number one source of financing for small businesses, according to the Federal Reserve’s 2025 Small Business Credit Survey . …