Is it possible to go through life without ever having any credit cards?
Some people use credit cards everytime they make a purchase. Others may only use their credit cards for big ticket items. And some people never use a credit card. In fact some people do not even have a credit card in their name.
A recent poll by creditcards.com showed that some 29 percent of 1,004 respondents ages 18 years old or older said they did not own a credit card.
So why are people saying no to credit cards? People are saying no to credit cards as a way to protect themselves from going into debt. They are skipping credit cards and choosing to live a cash only lifestyle. This also equates to a debt-free life, for many.
People find that it is easier to control their temptation to overspend when they do not have a credit card to rely on.
Quite often having access to credit makes people feel like they have more money than they really do. And because of that they tend to lose sight of what they can truly afford, and the next thing they know, their outstanding balance on their credit card is through the roof.
Personally, I think that whether you use a credit card or not should be a personal choice. However, there are some occasions where a credit card is required to make a purchase. Some examples of this are when you book a hotel room or rent a vehicle.
Fortunately, these days people without a credit card can use an alternate form of payment when they want to reserve a hotel room or rent a vehicle. As long as they have cash in their checking account they can use what is known as a Debit Credit card. To a hotel or a car rental company these cards are viewed the same as a traditional credit card. But to the consumer they are viewed as cash, because the amount that they can spend cannot exceed the amount of cash in their checking account.
So in essence by using these cards a person is still living a cash only lifestyle, but they are still able to book hotel rooms and rent a car, so that they can travel as they normally would.
While it is possible to live your life without a credit card, understand that never using a credit card can have a negative effect on your credit score, which could hurt your chances of qualifying for a mortgage or a car loan in the future.
If you are interested in credit repair, there are professionals out there who will work towards improving your credit so that you can get approved for loans, receive lower interest rates (and save thousands of dollars), and more. CreditRepair.com will help you create a game plan to improve your credit score, they will contact credit companies directly on their own, they will communicate with the credit bureaus to work towards making a change, and they provide an online dashboard that will help you monitor everything that is going on. It is all very affordable and will most likely save you thousands in interest fees and late charges.