This article paints things with WAAY to broad a brush.
Rockpiles thread about his son got me thinking. My SIL, the druggie, has decided a long time ago that my DH is doing well because he was the "Favored son". Nope. IT was because he USED credit, not abused it with bad debts the way that she did.
Because he paid his debts, he got a car loan. With the car he went to a better job, and the car was paid off on time. So, the car really paid for itself, especially since he drove it AFTER it was paid off.
The next car paid for itself too, as the first was unreliable after a time.
With the better job and established credit, we got a loan on a house and then I got a car as well. I also got a job, which the car took me to.
Cars get paid off and we continue driving them, and the mortgage payments are made on time. Without credit, he would have earned less, advanced financially more slowly, and we would not have a house and (now) 6 acres.
Yes, credit can be used foolishly, but many people are more sensible than that!