BoRF
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Credit Cards are for idiots. Pay more later? what a great concept for corporate pigs. interests rates are retard high too. If I can't afford it now, I don't need it. |
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echo
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It rules as long as you never have to buy a house or a car.
Just because you have credit cards does not mean that you have to max them out and be debt ridden.
If you have a good mixture of major cards, store cards and loans, and low utiliztion - good history on them, when you apply for a mortgage or a car, your interest will be considerably less than if you have no credit or bad credit. It even affects other things such as your car insurance etc.
If you use credit wisely and pay in full every month, you will pay no interest.
Unfortunately our country is a plastic driven country. If you do not have the plastic - you will pay - in higher interest.
Do the math, you could be paying an extra 10% "or more" on your mortgage for 30 years if you try to get a mortgage with no or little credit history - thats a huge chunk of change to be paying simply because you don't have credit. |
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creamywhiteskin
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Ah, indeed. Verily. |
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Joe T
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To extra_37:
A FICO score is not a requirement to get a mortgage. Just look around for a mortgage broker who will use a lender that _manually_ underwrites your loan instead of the quick and dirty automatic underwriting that's normally done. Fannie Mae doesn't require a FICO score. |
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Trey
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credit is the ruin of the American economy |
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Merri
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I think that if people can be responsible with them, they can be a good thing. They are part of the cause of inflation in our country. However, they do come in handy ALOT! There are unforeseen events that tend to happen that a credit card can help you with, i.e. your car breaking down. They do help with obtaining a mortgage and really help the credit score. Don't buy materialistic possessions with them. Just stick to the basics and pay it off quickly and you will be fine. |
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bugatti12003
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no why would you |
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Curiousty27
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This is a mix issue. You need credit to make big ticket purchases. If you want to buy a home, car, etc you will need some sort of credit so that lenders can get an idea if you will repay the loan or not. The only people I know that don't use credit cards are the wealthy - because they can afford to buy things, cash. If you budget your money and control your spending habits, you can still establish a very healthy credit history and be debt free. And when you're ready to buy a home or new car, you will be offered the best rates. |
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goldwing
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I do not use CC for purchases....period. But they are needed to check into a motel, rent a car, etc. And an ATM card will not do. The only time I purchase on credit is for house(s). I do keep my cc fresh by occasionally using them as a purchase, but pay the balance the same month to avoid a finance charge..just keeps the cards usuable. |
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extra_37
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Life with no credit cards is a life without any credit! Whcih means when you want to apply for a mortgage, you won't have a credit history for them to assess. therefore, you will be considered a high risk and either be declined or have to pay a higher rate.
Best if you had one or two cards and you use only for cetain things, such as your internet fees. Pay them off every month and your credit score will increase dramatically. |
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maria_cd_in_training
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i do not have any credit cards except American Express that has to be paid in full at the end of the billing cycle and a visa check card that deducts what i buy right out of checking. credit cards are killing America. Ronald Regan knew this and tried to get Americans to stop using them. it was working for a short time but the credit company's fought back and won. i cant tell you had much junk mail i get from credit card company's trying to get me into that financial trap. forget, not for me. i work hard for my money, i don't need to waist it on credit card interest. |
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♥wAKinG uP In HIs DReaMs♥
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Yes, I do. My husband does have one but is only used if we can pay it off right away. I on the other hand would find excuses to constantly max them out so I stay away from them!! |
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bcooper828
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Yes...At first it seemed like I wasn't with the "in crowd" plastic is the thing afterall...But I don't get as much stupid junk in the mail and my bills are kept to a very dull roar. Cool isn't it? |
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BUBBLES
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I have one but nothing on it. I hate it! But I have to keep it for emergency and for things like car rentals that just take credit cards! |
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educated guess
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No credit cards for me either. Why would I pay interest to anyone to spend my own money? Ha! |
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jd
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Yes. It IS very liberating, isn't it? Good for you. |
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darkmatter
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yes cause after racking up so much debt i closed accounts and threw away all my cards...except my visa debit. do have one more credit card bill...butit isn't much! IT IS NICE....THE FEES AND INTEREST CAN ADD UP IF YOUDONT' PAY IT BACK QUICKLY |
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simboehme123
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i don't have one......
its the smart thing, until you are very responsible |
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brittme
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No not now, but I will soon by paying them off. Yes, we will start saving money to buy the things that we from the savings account. Why pay interest to someone else when we can be earning the interest myself. |
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ebkelly74
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I live the life of no credit card debt which is pretty cool. I find the cards to be useful in some situations, however, so I haven't given them up. |
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Josefina R
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Yeah, but I still have a lot of liabilites and VERY few assets, so it's kind of like I'm still in the same hole (i still have to have a job). |
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