Well, I guess the situation really depends on a country. In Russia the annual inflation rate stayed in 5-7% for several years. Taking a loan for 15-20 years was a very good opportunity. Of course interest rate was around 15%, but still devaluation of the currency was killing your debt quickly. Yet I haven't ever been in debt and never owned a credit card. I don't want to feel my self caught in a trap by a bank.
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"I don't want to feel my self caught in a trap by a bank."
That is a great way to put it. Unfortunately, debt is easy to get into and hard to get out of...that is why for most things I recommend cash.