S/O to the ZERO Credit Score thread

[Lucy Alden]

So, let me ask a slightly philosophical question.  If a "credit" card is one of those prepaid deals, is is really credit?  Obviously, I understand that in the strictest sense of the word that something that is prepaid is not credit but, do those of you who choose not to use/have credit (and I am in this boat) consider it participating in the whole debt/credit paradigm?

Original thread

[happysmileylady]

I think that there's a difference between avoiding accruing more debt and being against the entire credit system. 

A prepaid card is not the same as using a credit card because there's no debt being accrued.  You are putting the money up front to be able to use a convient form of payment (and paying a fee to do so in most cases. )  I have no issues with prepaid cards (other than the upfront fees you pay when you buy the card,) but I won't use a credit card (and can't get one anyway,) because that's a debt accrued.  Even paying it off right away, that's still debt.  And it's SO easy to miss paying it off for just about any reason-a paycheck screw up, a night in the ER, whatever.  And then there's added interest and the cycle begins.  No thank you.

But, if credit works for you and yours, more power to you.  It doesn't work for me and mine.