Can one live without a credit card?

[markio26]

i think i could live without a credit card... spouse likes the discover cash back rewards... this is the only card we use.... i only use my debit card when they will not accept the discover card... i think the rewards are fewer and very limited now. cash is king.

[Broken Arrow]

Actually, I've lived for years without a credit card. I don't know how long, but more than 5 years for sure. I just got my first "real" credit card about... a month ago I think? I'm proud to say that I don't even wait til the end of the month to pay them off. Instead, I pay all my bills the moment my paycheck shows up in my bank account, and that includes the new CC.

In any case, I know I can easily live without CCs. In fact, I find having to look after this CC to be a bit of a nuisance. However, I also know that the benefits will still outweigh the hassles in the long run.

[Lenae]

I didn't get my first credit card until last summer when I was 27. I got a JCPenney card so I could pay for our wedding rings ($2500 retail for $650!).

I always used cash and checks to pay for items and got a debit card last summer. I did get 2 credit cards this summer. One at Lowes and took advantage of the 1 year to pay it off. I also got a Victoria's Secret Angels card to take advantage of the semi-anual sale.

The only credit card situation I have ran into it needing one for renting a car. All I have to do is use my debit card to pay a deposit (which never showed in my checking account).

[Roupey03]

I told myself that I would never get a credit card, but right after my 20th birthday I got one. I don't see why people wouldn't have cards. I usually just buy gas and pay it in full when the bill comes just so I can have something on my credit report. Plus you never know when emergencys will strike.

[kealina]

lol... i didn't have one until this month and i'm 24... DH added me to his credit card, which is good as now we can both use our cards for gas and whatever... i think it's a good thing because we are both very financially responsible and pay any bills at least by the end of the month... we only use credit cards because it is simpler to charge and then go online, transfer the money and pay the credit card since it is all from the credit union... i used to use only cash but i hope to slowly build my credit and use the benefits to my advantage...
funny enough, my mom raised me to be really anti-debt so i'm fairly confident that i can avoid that trap although there is still so much for me to learn in other financial areas that i was taught as a kid....

[Bluezy]

I have an elder brother who nixed credit cards many years ago. Not only has he survived without the credit, he was able to pay cash for investment properties. He has amassed a substantial nest egg.

In South Africa you always paid cash for what you wanted or needed. The old Afrikaans who built homes and resold them always used cash funding from building societies; credit was not heard of. They also amassed inpressive nest eggs.

I believe that CJ and I can survive without credit, however, I don't mind have a line of credit for CJ's medical emergencies. Our HSA is too new with not much of a balance to carry us should we become ill.

[FrugalBachelor]

I have zero credit cards! No regrets........really

[veronak]

It can be done, I did it for about 6 years and wish I would have stayed with, now I owed about 2400.00 total I have since paid off about 4000.00 since last December. But to answer your question I think it can be done

[lrjohnson]

Originally Posted by Lenae

The only credit card situation I have ran into it needing one for renting a car. All I have to do is use my debit card to pay a deposit (which never showed in my checking account).

Beware that even though the money won't show as deducted in your checking account, that the money may be unavailable. A few years ago I go my dad a hotel room, reserved on my debit. I had about $500 in the checking, and I got notice of an "overdraft" and money was moved from my savings to checking to cover purchases I had made (piddly, less than $100.) I called tha Credit Union and said "huh? I have Over $500-why won't $100 clear?!?!?!?" They reversed all charges (I love my CU) and explained that often with hotel/motel rooms and rental cars, that and amount is frozen. If you keep a high balance it may not affect you, but I like having more in my savings than checking.

I'm not trying to say you have to have a CC. Just that funds can be frozen without a deduction showing on your bank statement.

[JoyJoy]

Thanks for the explanation earlier about debit cards, Sweeps! We went through Canada and hubby charged gas to our credit card. We checked our balances when we got home to see what damage we had done to our cards while away. $75.00 was put on as a hold for buying gas at BP in Canada. I called our card company and was advised the hold would be there for 4 days. Glad we used credit instead of debit. Suze Orman recommends not to use your debit card online for purchases; credit cards only.

Yesterday I was listening to CNN's consumer report Gerri D and she stated paying for gas with cash can save one up to four cents a gallon. Also to buy gas when it's cooler outside as opposed to when the temperature is high. There were other tips about gas consumption which may be found on CNN Money.

[Ima saver]

I don't have a debit card and do not want one. The only money I put in checking is for paying bills. Clark Howard advises not to have a debit card. I do use my credit card, pay it off every month, and get 1% back when it hits $100.

[lrjohnson]

Originally Posted by Ima saver

I listen to Clark Howard and he says not to have a debit card. I have never had one or needed one.

I guess you really believe in Clark Howard!

[Ima saver]

He is pretty smart!! But I never had or wanted one before I heard of him. I only put money in my checking to pay bills, nothing else.

[Crystallas]

Debit/credit card vs Cash. Someone steals your debit/credit card, and your insured.
Someone steals your cash, and you make a claim. One gives you a great chance of getting reimbursed, the other leaves you broke.

If the topic at hand is questioning someones discipline, then by all means avoid the plastic. But if you can trust yourself to manage a card, then you most definately should use it to your advatage, and not the credit companies advatage.

Not all plastic are equal, and people should choose carefully as to what suites them best. 0 fee debit cards and 0 fee credit cards are pretty common, just make sure you dont spend over what you can afford to pay off at the time the bill is due.

[flinnie]

Have two or three credet cards.Alway try not to charge over what I can pay off each month.
They are nice to have but, you can get it to a lot of trouble though.

[funnyvalentine]

I couldn't live without mine....i use my upromise card for everything and then pay substantially over the amount due. I cut up all the other ones and I'm paying them back gradually.

[BCHGRL]

Credit cards are like guns. They are only dangerous when someone doesn't understand the responsibility that ensues with ownership or someone has the wrong intentions to start with.

Credit cards do not cause debt. People cause debt.

[Ima saver]

You are right, beachgirl, people cause debt. I could live without my credit card if i needed to. I mostly use them when I order from a catalog, but I could send a check instead. It is just a conveinence for me.

[Broken Arrow]

Hmm. Well, I know everyone has their own way of doing things, and I think so long as it works for you, that's all it really matters.

Having said that, I have both debit and credit, and I like it just fine. I've used my debit for years as a primary means for purchase, and I've recently replaced it with a credit card. (The debit card is currently locked up in my safe.)

I think the biggest thing is to be able to keep track of it and not overspend. My budgeting method allows me to keep track of it such that, not only do I know how much is left down to the last penny, but also how much am able to spend and still pay it all off by the end of each pay period.

Yes, I'm bragging, but this is one of those few things that I actually do well, so... please humor me.

But yeah, I like the simplicity of carrying just one credit card for all my everyday needs.

[simpleselu]

I am living without credit cards now; they are all frozen in water in a tupperware in the freezer.