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Your simile doesn't work. One needs a driver's license to drive. One does not need a credit card to make purchases. And getting card actually can be a bad fi
by crikli 14y ago
Your simile doesn't work. One needs a driver's license to drive. One does not need a credit card to make purchases.
And getting card actually can be a bad financial decision as too many cards can negatively affect a credit score.
- Smudge 14y agoBut not having any credit cards can also negatively affect your credit score.
- alanfalcon 14y agoAnd not having a credit score can be a wonderful way to live life.
- anthonyb 14y agoUntil you need to borrow money for a car or a house...
- PythonDeveloper 14y agoYou don't need a credit score if you can pay 50% down, which you may be able to do if you didn't pay all your money to the credit card companies.
- Locke1689 14y agoI've never paid a dime to my credit card companies.
- goatforce5 14y agoMy credit card company paid $800 towards the airfare of my recent trip to Oz thanks to reward points. I pay my card off multiple times per month. They don't get a chance to charge me interest. (Just checked and I have $300 worth of points waiting to be spent on travel. That's my upcoming Boston trip covered.)
- crikli 14y agoIf a purchase requires you to borrow money, seriously ask yourself if you need to make the purchase. Could you (the royal you) buy a cheaper car, borrowing less or paying cash? Could you sustain another year in your current living situation? The problem with debt-financed purchasing is that while it expands short-term options if not managed properly it can severely limit long-term options.
- jaems33 14y agoI think most people need to borrow money to buy a property or start a business.
- hollerith 14y agoUntil you want to rent an apartment in a place where there is a lot of competition for apartments, like the Bay Area.
- goatforce5 14y agoOne needs a driver's license to drive. One does not need a driver's license to travel.
- PythonDeveloper 14y agoOne does not need a drivers license to drive. One merely needs a vehicle. The fact that not having a credit card damages your credit score should be enough to make even semi-intelligent people realize that credit score is not a fair and equitable measure of one's ability to pay on time.
- Locke1689 14y agoWho cares if it's fair if that's what's used? Sounds like you're a bit hung up on how things should be rather than how things are.