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We closed our last one about a year ago and have been fine without it.

 

 

 

We used to not own a credit card. But we occasional like to take a trip and air travel and/or renting a car has become almost impossible without one.

 

We never have a balance on ours.

 

We just rented a car without one a few weeks ago. It can be done. We had to put down an extra $100 but we were ok with that.

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We have no credit cards now and never have had one. We do use a debit card but I don't do checks. Other than or house, hubby's car and my student loans we have not debt. This use to pose huge problems in the past but then debit cards came around and I haven't had a problem since. Hope it works for you.:001_smile:

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For us, life is much easier *with* one; we use it for everything, and pay the balance each month (actually, I pay it the balance every two weeks when I pay the other bills). I never use the debit card, other than to get cash from my bank's ATM.

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  • 2 years later...

We didn't have a credit card for two years. I still don't have one on my name, but my husband couldn't stand not getting the cash back on groceries so he has one now. I prefer to keep my life very simple.

 

I love not participating in that system. I've never had a problem with it, and I'm actually now moving to using cash the majority of the time, with the two major exceptions being (a) online purchases, and (b) gas purchases when I have a baby in the car. I don't like to have to go in the store to pay and leave the kid there, even if he is locked up tight and strapped in, so I suck up the $0.45 Arco station convenience fee for debit cards.

 

P.S. The reason Arco and Costco gas are cheaper is because they don't accept credit cards so they don't have to swallow the merchant fees.

 

Good luck!

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Haven't used one in years. Debit cards work for me, however some say if there is fraud or a charge in dispute or your account gets hacked you could be in more trouble assuming everyday expenses are running through this account. You can open a second checking account, get a card, transfer whatever money into it, then make your online purchases, rent cars, reservations, etc. but nobody has access to your main account.

I rent cars quite a bit because I travel to our ill aunt 2.5 hrs away and my car is old. Enterprise charges $200.00 extra on the debit card and refunds it upon return of the car or within 2 days.

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Credit card for online purchases/payments. We keep a cushion in our checking acct,but can't afford a mistake if a decimal is off somewhere or a business sucks three payments out at once. Also, with our debit card we get no buyer protection like we do with the credit card. Too much risk with using debit cards online.

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We don't have one and have been fine. We LOVE not having one! I'm a Dave Ramsey supporter.... for the most part the plan works well. We are DEBT FREE! (it wasn't always this way) I just found for us, that we overspent often when we had a credit card. So.... we cut it up, paid it off, and have been working hard to stay on a budget. Good luck with whatever you choose!

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We NEVER have! Sometimes it's difficult but it's always better in the long run.

 

We travel a lot too and have never needed one for any reason. I love every month not worrying about the credit card bill.

 

Teeheeeheee. You actually already commented on this thread in.....2009!!

 

I read the whole thread before i realized it was an old thread. :D

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we own zero credit cards. we haven't used one in years. we also do not own a checkbook, although we have a checking account & could order some - but it's been years since i've written a check. we also very rarely use our debit card, lol. i pay our bills online (including people). to buy curriculum, i will use paypal. we mostly use cash.

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Ha ha ha LOL. Oldest ds and I were renting a car this weekend where he goes to college (which is a different state from where both our driver's licenses are from) and Enterprise would only rent to us with a major credit card - debit card would NOT do because of the out-of-state license.

 

So, yes, right now I would say that a credit card is necessary because otherwise we would have been driving a car that can't reverse on our road trip! :D

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I don't. :) I opened one twice, once when I first moved out on my own, and once so that I could pay for my home birth for dd2. Both times, as soon as I was able, I paid them off and closed the account. My dh has one for his business, but it must be paid at the end of the month, so it isn't racking up debt. I am hoping to never have to rely on one again.

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We only have one, because I want some protection online if a sale goes bad. I have had to file twice for over $200 with my credit card company, so IMO it has saved me money. We don't have AAA either, and tow trucks around here require a CC number before towing unless I want to trust that they will say I paid them if I give cash. Those are my reasons for having a CC, but if you don't need one then toss it.

 

FWIW we don't have any CC debt, so that probably plays a role our decision too.

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We have them but keep them at Can Pay Off immediately levels at all times-we don't buy it if it can't be paid off at the end of the month.

 

We also have a business and it would be impossible to function without one.

 

 

This is us. We have a business and couldn't function without one. However, we do also have a household one as well. We use it for absolutely everything because we love to earn the rewards (this year we earned over $1000 in cash rewards!). We never carry a balance (haven't had a balance since we paid off $3800 in 1993 :hurray:).

 

I think it is great if you can go without a credit card though. I don't even have a debit card and carry very minimal cash. It would be quite an adjustment for me!

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This is us. We have a business and couldn't function without one. However, we do also have a household one as well. We use it for absolutely everything because we love to earn the rewards (this year we earned over $1000 in cash rewards!). We never carry a balance (haven't had a balance since we paid off $3800 in 1993 :hurray:).

 

I think it is great if you can go without a credit card though. I don't even have a debit card and carry very minimal cash. It would be quite an adjustment for me!

 

This is us. We never carry debt on our credit cards but we use them to pay for everything and earn rewards. Card is paid off in full every month. It's also easier for us to budget and keep track of purchases too. Neither of us had any credit card debt for years before we were married. So I'm guessing it's been a good 15 years since we've had any debt other than our current mortgage (which we regularly make double payments on). Just saying credit card use doesn't necessarily have to equal money mismanagement or debt.

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We have our checkcard visa, and that's it.

 

We are happily without credit card temptation, and credit card debt.

 

If something needs doing, we have resources that will extend us credit (i.e. our auto mechanic will let us pay in a few installments if there's a car emergency, etc.). Anything else that comes up, we deal with it until we have the money.

 

Liberating.

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We spent many years without a single credit card. We cut them all up in 2001. My dh lost his job right after dd was born. He was unemployed for almost her entire first year. I am thankful we had the credit cards. I was still working full time at this point but my salary was not enough to support us. Without the cc we would have lost the house. That said, we did get deep in the whole. Car repairs, groceries, unexpected medical bills, etc. As soon as dh was working again we cut them up. It took 5 years to get out of that debt. During this time we relearned the joys of "cash on the barrel" and continue to live that way. It still amazes me that I veered so far away from my budgeting when dh and I got married (but that is another story). If we don't have the cash then we go without until we do.

 

A few years ago we got one for emergencies-when the furnace gives up in November kind of emergencies.

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We closed out all credit accounts 2 years ago. I don't miss them at all. My debit card is a Visa and I only use it as such (I actually don't even know the pin... I should fix that next time I'm near the credit union).

 

If I find myself in a situation where I need a credit card to rent a car, I'll just pick up a prepay one, and the credit union is happy to float us a signature loan for major unexpected expenses, at an interest rate much lower than the credit card companies.

Edited by MyCrazyHouse
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No credit cards here, everything is paid in cash.

 

We made mistakes in the past and got way over our heads in credit card debt, so we cleaned up our act and got rid of the cards and the debt.

 

We have been credit card free for over 5 years now, we have been debt free (except the mortgage) for almost 4 years.

 

Now we have an established emergency fund for emegencies, so we don't ever need a credit card for help.

 

I don't even use a debit card if I don't have too, because I found that it is still to easy to spend money when it is not right in my hand to make me more hesitant to just "splurge". So typically, If my envelope is out of cash, we do without until the next payday. I have learned to squeeze the life out of all our money to make it stretch as far as possible to keep us from ever needing to dip into debt again.

 

We are using the Dave Ramsey plan and we have sinking funds established ( increments of money we put in special accounts year round each month) for things like once a year bills (such as property/school taxes or insurance) as well as home or car repair, heating bills, new large appliance fund or new to us (used) car fund, Christmas gift fund etc.

 

This way we cover our finances ahead of time before the "need" arises. We plan and anticipate future needs as best we can so we don't have to use our emergency fund unless it is a true emergency.

 

We also follow the You Need A Budget plan of paying our bills into accounts a month in advance, so we always are paying next months bills with this months paycheck. This allows us to always stay ahead of the game and out of trouble should a problem in my husband's job status arise.

 

It works for our family, it keeps us solvent and out of debt and that keeps us afloat each month and working on paying off our mortage way ahead of the bank's schedule.

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Ha, I realize this started out as an old thread, but the subject is always relevant.

I can't imagine not having a credit card! I can see that you can certainly get by without one, however, esp. if you have a debit card.

We mainly only use one, and I use it for everything -- gas, groceries, etc. I pay it off to 0 every month, BUT, we collect air miles with it. We've earned several free air tickets that way. That's probably the main reason we keep it.

Also, we travel internationally quite a bit, and our children are often abroad -- studying or living. Debit cards don't always work abroad, and sometimes you don't like carrying a lot of cash. Certain credit cards (the one we use) let you charge things abroad and DON'T charge a conversion fee (that is rare!). They also provide insurance on most things that you charge on that card, in case that item is lost or stolen.

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I'll contribute to resurrecting an old thread. :001_smile:

 

We own one, but haven't used it in 6 or 7 years. I can't remember how long it's been. When we stopped using credit cards we kept one for emergencies. While we've had a number of unexpected expenses, we've been able to handle every one of them without using the credit card.

 

As for not being able to rent a car or buy certain things with only a debit card, not true in all cases. It depends on the card. We have a Visa debit card through our credit union. It's treated like a cc in every way, except that the money comes directly out of our checking account. We've rented cars with it, traveled out of state with it, and made online purchases with it. We even had them call us a few times to make sure purchases were on the up and up. When we bought a computer online on a weekend, we got a call asking if it was truly us using the card. When ds and I traveled to Washington, D.C. I was using it often at restaurants and shops. Dh got a call checking to make sure it wasn't stolen. We're protected against purchases made in the event it's stolen, and we're able to use it anywhere one would use a credit card. Of course, if we don't have enough in our account, it won't go through - just like if you exceed your credit limit your cc won't go through.

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Just curious to see if one can live in this world without one. We have one and we have decided to close it out on Monday. We do have a debit card however but that will be all. Any opinions? Is this not a smart move or does it really matter?

 

We used to deal only in cash or check. However, it is next to impossible to make online purchases, rent car, fly, or rent lodging these days without one. [Travel is something we seldom do these days anyway.]

 

We do not carry a balance on our cards. We have a business card, a Costco American Express card, and a couple other personal cards. Some of the cards we applied for because of rewards.

 

However, I have been considering returning to cash or check only as a minor form of revolt against the system. We try not to use debit cards since they do not have the same form of misuse protection that credit cards do by federal regs.

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We used to not own a credit card. But we occasional like to take a trip and air travel and/or renting a car has become almost impossible without one.

 

We never have a balance on ours.

I keep my single card for this reason. Also, I've had it since 1978 and it has a 4% interest rate on it. I carry no balance 99% of the time but once in awhile, something needs to be purchased that I prefer to be on a CC, so it can be reversed if necessary. I've only done that once in over 30 years, but the Seller refused to deal with me, and indeed, sued me, at which point I immediately filed a countersuit and he backed off and dropped the complaint. Rubber mulch - don't buy it. It reeks.

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A Visa checkcard/debit card has all the purchase-protections and is treated as a normal visa for rentals, travel, etc.

 

I have NEVER had a problem with disputing a purchase when I've used my Visa checkcard. It's treated just like a traditional credit card purchase.

 

Of course, you have to make sure you're using the Visa feature, not the debit feature.

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A Visa checkcard/debit card has all the purchase-protections and is treated as a normal visa for rentals, travel, etc.

 

I have NEVER had a problem with disputing a purchase when I've used my Visa checkcard. It's treated just like a traditional credit card purchase.

 

Of course, you have to make sure you're using the Visa feature, not the debit feature.

 

Not true - read my post above!

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Just curious to see if one can live in this world without one. We have one and we have decided to close it out on Monday. We do have a debit card however but that will be all. Any opinions? Is this not a smart move or does it really matter?

 

In today's world, I think it's wise to have a credit card even if you don't actually use it since many things require or are simply easier if you have a credit card, and without one your credit score will suffer, limiting your ability to get credit if you ever do need it.

 

Car rentals on a debit card often carry a high "block" of funds in your bank account, same with some hotel reservations. These "blocks" on your funds availability can last up to seven days after you return the car or check out of the hotel!

 

Purchasing online isn't difficult with a debit card, but it exposes your debit card number to fraud online with the potential to wipe out your bank account with little or no fraud protection. Purchases on a debit card often are not covered like those with a credit card.

 

Your FICO score can be negatively affected by the lack of a credit card - you're better off having a $2000 card you don't use (0% of credit used), than no credit card showing 0-credit available to use.

 

Debit cards may carry use fees when you buy things at some stores, treated as an ATM withdrawal and not a credit card purchase.

 

In an emergency a credit card can get you plane tickets to a funeral or other family emergency if cash is tight at the time of emergency.

 

Lastly, you can always just not use the credit card, but if you cancel it, getting one later might be harder since you have now limited your own credit history by not having the credit card or using it (and paying off immediately now and then to show some credit activity).

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We have one because the consumer protection is better for a credit card than for a debit card. (You don't have to wait for anyone to put your money back if there's fraud because you were never out any money in the first place.)

 

We've had the same card for ten years and have never carried a balance, so we've never had an issue with debt on it.

 

I suppose if one had a problem with running up debt, it might be better to just stick with the debit card.

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We have a Costco AMEX card (great for gas) and several credit cards with rewards - all with automatic payment from our checking account. Dh does not want debit cards - guess he's afraid of the easy access to our checking account. He prefers the fraud protection, credit history, and rewards associated with credit cards. We haven't paid a cent in interest and have gotten back a lot in rewards. We also do charitable contributions (tithing), pay school fees, etc with cc.

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We have a few. 2 main ones that we use for most of our monthly purchases because we get rewards on them. We pay the balances off every month. We travel frequently and make a lot of online purchases. I don't feel comfortable using my ATM card for many purchases like that because there are more protections on the CC than on the ATM. I've dealt with fraud on both my CC and my ATM cards and it was WAY easier to deal with on the CC. Both times, we got our money back, but the bank took much longer to handle the whole thing.

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