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You can have a zero score and be just fine in those instances.
Correct.
My insurance agent informed me that having zero score is much better than having a low score.
It is true that not having a credit score might require a small deposit for utilities and/or cell service, but let's be honest here. . . People who have ZERO score usually have substantial cash savings/net worth and putting a few hundred dollars on a utility bill is nothing to them.
I have a mortgage that will be paid off in the near future and once that is gone my score will die a gruesome death soon after..
So to try a change of how I spend and save, I decided to cut up my cards, the only money I have is the cash in my wallet and change in my car. I paid off half my debt today and plan to pay it all by June. I chose this time because I'm getting rid of my apartment and bills associated with it. I also plan to sell my car and save a load there.
Does anyone still live without using debit or credit cards? Is it becoming impossible in this day or just a little inconvenient at times?
Now I'll never have to waite for gas stations to post the transaction. I won't have to log into my bank account to monitor my balance. I won't have a creditcard payment soon. I plan to completely stop using my bank. My credit is 900 or something like that almost as good as it gets. Will that be hurt?
I can understand the credit cards but not the debit cards
I heard someone put a good perspective on this idea. He said the person who says they are giving up on credit because they can't handle it or fear what it could do to them is like someone telling their mechanic to take all but 1st and 2nd gear out of their car because they are afraid of driving too fast and getting hurt in an accident. Sems ridiculous when you hear it, but hey whatever works. I always ask people why not just keep a card and tell your bank to limit the card to $500 or some small amount and even that sounds scary to them. I suppose it prevents some damage, but I have to believe people who have control issues with debt will still find ways to squander a lot of money. Sort of like how people who are prone to drinking problems may manage to stay out of bars and not buy alcohol for the house and still find ways to get drunk.
So to try a change of how I spend and save, I decided to cut up my cards, the only money I have is the cash in my wallet and change in my car. I paid off half my debt today and plan to pay it all by June. I chose this time because I'm getting rid of my apartment and bills associated with it. I also plan to sell my car and save a load there.
Does anyone still live without using debit or credit cards? Is it becoming impossible in this day or just a little inconvenient at times?
Now I'll never have to waite for gas stations to post the transaction. I won't have to log into my bank account to monitor my balance. I won't have a creditcard payment soon. I plan to completely stop using my bank. My credit is 900 or something like that almost as good as it gets. Will that be hurt?
Well, I wouldn't sell my car. But If I could live debt free, then I would be a happier man. Debt has kept me from doing a few things I've wanted to do. If I want to buy a house or car, and someday I will do one or both of these things, then I will need a good credit rating. As to car maintenance, it can get expensive, but I do my own oil changes and I also know how to install my own brake pads when needed. Ihe next thing is the alternator, I imagine it will die before I am ready to get rid of this car so I will have to tackle that as well.
The biggest regret I have is that alot of the things I used credit for I really didn't need. I also could have saved myself alot of money if I had started doing my own car maintenance sooner, just the brakes alone probably cost me $6,000 with the cars I have owned.
Well, I readed some books of robert kiyosaki and he said taht there are good debt and bad debt, I think that dhanu86 did a good choose, 'cause credit car isnt a tool that in the future will take money for me, credit car is for consume, I think.
but you should keep the debit car, for whatever emergency, you never know what could be happend in the future.
I don't believe that for a second. If someone wants to use such criteria to decide whether or not to hire me, they can keep their stinking job.
Depends on the job. The only time I have ever seen it personally is when the applicant is either for a position where they will be responsible for managing large sums of company money or a job where someone will be traveling a lot and will need to qualify for a corporate card with a substantial limit in order to properly do their job.
Quote:
Originally Posted by scottfreez
Credit cards are just a rat's race that one is not required to run.
No...credit cards are tools - as such, they can be used wisely or poorly.
Quote:
Originally Posted by Thinking-man
All these reasons put credit cards at an advantage over 'cash'. but i say it again...you have to know how to use them!
Yep.
Quote:
Originally Posted by NJGOAT
All the cash in the world doesn't help me if I can't access it when I need it.
Exactly. That emergency cash fund in the wall safe won't do jack if your car brakes down in the middle of nowhere and you need to pay for a tow, repairs and a hotel room for the night (which has happened to me)
Quote:
Originally Posted by sonarrat
Book through a third party site like Expedia. Most of them will let you use a prepaid card.
Many hotels will not, however, accept them a pre-paid card at check in. Most decent hotels want something to guarantee any incidental charges, even if the room has been paid for in advance. And the hold on funds for a debit card can take up to a week or more to be released after check out.
I've only had one CC for 15 years now. Always paid my bill in full every month.
I use my CC for gas/food/spending through the month and pay the bill.
Helps me track my budget easier, keep track of big ticket items and let's me use the bank's money for 30 days while mine sits there earning money (yeah it's a tiny amount but it's earning nevertheless).
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