Quote:
Originally Posted by BlackCrayon
cash is great but the fact that you don't have a credit card shows you basically have no credit and couldn't get a loan/buy a house/etc. Being in this biz its almost mandatory to have one. I guess there is epass now but if you don't have a cc there will always be something you are unable to purchase online.
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Not necessarily. Some banks will give you small loans for nothing as long as you can prove you can pay it off accordingly just to help you build credit.
I started building my credit by getting a $2.5k loan and paid it off, then moved up to a $20k a loan for my car and have been paying on that.
I don't use a credit card for the whole fact that I have a huge problem managing my money and I feel credit cards and checks just say "Hey, spend it now, and just try to make sure you have the money in there later!". I've got 2 debit cards for banks, and an epass/paypal card. Between the 4 of those, I got all my non-cash related purchases covered.