You can not simply “shift” billions of dollars from one currency to another.
As much as the rich people with billions want to get rid of the USD, the people willing to give GBP or Euro for USD don’t have to accept. Why would they want to be holding on to the USD if the others don’t?
They could be slowly doing it right now, but if the shit hits the fan, the exchange rate would jump.
Credit cards = Free Money
1-5% cash back at most stores
So you can either pay in cash (or debit card) and get nothing. Or you can use a credit card and get 1-5% cash back
I need to spend $300 on groceries this month. If i had a credit card that did 5% on grocery purchases (one reason for multiple cards), then I’d have an extra 15 dollars this month. 180 dollars a year just because I used a credit card for a purchase I had to make.
I could have used my debit card, and the funds could be pulled directly from my checking account. Or the funds will be pulled directly from my checking account at the end of the month when I need to pay off my balance.
If I had an emergency $300 dollar expense in the middle of the month, I would have access to $300. If i purchased the groceries with the $300 in my checking account, I’d have no funds to hold over for 2 weeks. Longer if needed, a credit card can hold a balance for a price.
There really isn’t a reason why you shouldn’t use a credit card in America, other than poor spending habits
Credit cards can even give you perks like free cell phone accident protection when paying your wireless bill
Have multiple cards with multiple limits = higher available debt
The higher your available debt, the less percent you use out of it
Debt utilization is a big part of a credit score. And just getting that down having multiple high limit cards is a strategy.
Like if I spend 5k a month. One card with a 10k limit I am using 50% of my available credit. If i had 3 cards with 15k limits, I’d be using ~10%. Using 10%>50%
Opening up cards hurts your credit score in the short term but helps in the long run. You shouldn’t close a card unless you have to because having it is going to help your score for reasons mentioned above.