Is a credit card necessary? - Page 3

[misswerewolf]

I had credit cards during my college days and retained them for a couple of years following college. Now I use my debit card exclusively. My partner primarily uses his debit card as well, but he also has a credit card, which he uses in two situations: business and travel. If utilized, the credit card is paid off in full every month.

I've never had a problem with debit card usage anywhere. I have posted some disputes with the bank, and never had an issue getting the account credited.

I MUCH prefer using my debit card. The credit cards, when I had them, gave me a false sense of security that I did not enjoy feeling.

[WC_hapamama]

Is a credit card necessary? No. Does a credit card make doing certain things easier? Yes.

[TiredX2]

Originally Posted by Knittin' in the Shade

We have no had a credit card in over 7 years, and it's not affected our purchasing ability at all. In that time, we've bought a house (gotten a mortgage), bought (and financed, and paid off) a car, leased a car, rented numerous cars, bought a mattress and furniture (using the store's 0% financing offers, paying off in full after the first billing cycle - we had the cash but there was a 10% discount if you used their financing) All that to say we've had no problem qualifying for credit without the "history" of a credit card. We pay all bills in time, paid student loans on time (DH is paid off, mine is very close) and otherwise did everything *right* to earn andkeep high credit scores. DH's is higher than mine, but he also makes a heck of a lot more money than me, LOL! (I run a micro business from home) .

These are just other examples of credit, though. So, you don't "need" a credit card but you're using credit just the same. But probably one reason you can get those deals is because you keep using them--- showing up as "credit worthiness" in their books. For me, I don't really understand the emotional difference between having credit att a furniture store, financing a car & having a credit card Just with one (credit card) you can eliminate the need for the others.

Originally Posted by WC_hapamama

Is a credit card necessary? No. Does a credit card make doing certain things easier? Yes.

It's nice piece of mind that if I ever NEED thosands of $ right then and there the card is there.

[p1gg1e]

Originally Posted by cristeen

Using a Visa gift card is still supporting the system. Any time you use any card with the Visa/Mastercard logo, even a debit card, you're still "supporting the system".

I wasn't talking about the company I was talking about the predatory lending and collections agencies.

Underwritten loans aren't common because they aren't pushed by the industry ( ever try to get a loan and have them talk up something like an ARM even though you have said that's not something your interested in? we were sold on a 7 year car loan..because the payments were "less" ). You have to call around and ask , they though aren't super hard to find. After asking others who have gotten them they really are in everyone's favor esp if you have a low score you can prove you have your !@#$ together...then your rate will be the going. You just have to jump through hoops its not quick. Also your proving a broader look at your finances and proving your ability to pay the loan.