Is all debt bad?

If you ever plan to use credit you need to have credit available . 35% of tour credit score is driven by Payment History, so in order to further enhance your credit profile and increase your credit score you need to have a credit product (loan, personal loan, line of credit, mortgage, auto loan, credit card. Etc that generates a statement with a balance monthly that would require you to submit some payment . What is required in each individual part is to use credit responsibly so as to have it reported favorably on your behalf. 

Debt is only bad if you cannot manage it. I have two credit cards and two bank loans under my belt and them alone put me at 710 credit. You just have to be smart as well as not put too much financial burden on yourself

No if you don’t have at least 2 credit cards you don’t exist and your FICO score will be under the minimum low so won’t get any loan,mortgage or any type of credit,unless you have cash to buy everything you need 

Yes. Nuff Said.  

Think about it like this.

You take out a loan, now you owe someone X amount of dollars and you have a limited amount of time to pay it back. They officially have power over you (financial). Now say you gotta pay $250/month for a loan. Think about where else that $250 could go if you were not in debt. Also, you have to pay interest. I don't know about you, but I don't like paying more money than what I'm supposed to at all. Quick example, if you took out a $5000 loan, would you rather pay back $5000 or say... $6213 (random number but hopefully you get the concept)? Banks are a business at the end of the day, and if you miss a payment, then you're going to be in some serious trouble. They'll take away whatever you got the loan for, you're credit score is going down the drain, and in some cases, it could lead to a lawsuit (like when people buy cars that have been repo'd). I say the best thing for all of us to do is to stay out of debt. I think about how much money I could have had if I never would have gotten into debt, and now I'm changing that for my life and will use that to build myself up in life, especially now that I'm in college. So to answer your question, yes all debt is bad. The only person that really even half-way benefit from debt is the lender, and I say half-way because they loaned their money and we do have some people out there who try to be low-down. So try to avoid debt at all cost.

Debt is very useful for responsible people who know what they are doing and it is the basis of capitalism allowing business to start and infrastructure we all use to be built. For people who borrow without the means to pay back, it is a road to ruin in a downward spiral hard to stop but not impossible.  Don't borrow if you don't have a way to pay it back,  If you do borrow, pay it off prudently to maximize the benefit and minimize the pain.

Wealthy people who don't need more money still borrow huge sums to make more money. It's easier to borrow if you are low risk and they know you have the assets to pay back the loan.  If you have no credit record to point and no assets to use as collateral or evidence of creditworthiness (low risk to creditor), then you will have to pay higher interest at usurious rates. Usury is forbidden in many Muslim countries and was forbidden in the old testament.  It is one of the first sins named in the Bible.  I don't understand how Christians tolerate this basic principle of their religion.  Many states put limits on interest rates but some don't and so that's why the credit card companies have their headquarters in those states.  Sioux Falls is in one of those states and that's where you send you payments for citicards and why it's there in that state.  Check out the limits in your state and lobby for lower limits or APR for credit and loans of all kinds.