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Coming up around a decade of no cc debt. It really isn't difficult to maintain either. I had a credit limit when I ran cc balances and I have a limit to my cash flow so it's really the same at the end if the day once you live within your means
I stopped using credit cards about seven years ago. I did the math on the "points" and all the other junk and decided to let them go. I now have a low interest one from my credit union for use in extreme emergency (car or medical) that my savings wouldn't cover. It's not for "trinkets."
My car and house are paid off.
Disclaimer: I'm also in my 50s. It took awhile for me to get to this point.
I stopped using credit cards about seven years ago. I did the math on the "points" and all the other junk and decided to let them go. I now have a low interest one from my credit union for use in extreme emergency (car or medical) that my savings wouldn't cover. It's not for "trinkets."
My car and house are paid off.
Disclaimer: I'm also in my 50s. It took awhile for me to get to this point.
I still use credit cards and get points/cash back because I'd spend the money either way but I just don't carry a balance
I don't think I ever had CC debt in my lifetime. Oh yes - once or twice when there was a 0% interest deal for a limited term. Then I paid off the balance before that deal ended.
All my credit cards are set to auto-pay the entire balance each month, directly out of my checking acct. I use CC for most purchases and get 5% off all gas, 3% off supermarket purchases and various points/cash back for other CCs. I make a profit on using CCs.
I also use specific credit cards to get extra time on warranties on some purchased items...and it's free as long as the purchased item has at lease 1 year original warranty. For example, if it has 1 year warranty, I get 1 additional year through the credit card. If it has 3 year warranty, I get an additional 4th year via the credit card.
Sometimes I get tired of trying to remain credit card debt free, but I know it's the best option for me.
Just need to see what made it click and stay with you all and for how long.
I am debt free but I do use my credit cards and pay them off every month. The only exception to that would be paying off a vacation or something. That might take me two months even though I have the money in savings to pay it. If I can avoid taking it out of savings, I will. Last year I paid $2.25 in CC interest. I hate paying interest so do my best to avoid it.
Credit is not 'evil'. You just have to be smart in how you use it.
I think it's been around 12 years or so since I have had any credit cards. I did open one recently that I put a couple of things on here and there. Just to show I am paying it on time, etc. I owe about 200 bucks on that.
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