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Readers Respond: Do You Need a Credit Card?

Responses: 39

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Life Without a Credit Card.

I've been without a credit card for more than a year and am doing just fine! I have $1000 cash saved for emergencies. If I use that money, I owe nobody but myself. No phone calls, bills, statements, interest, none of that! You’ve gotta look at how much companies are profiting from these spending behaviours and how much you’re NOT! Even when I paid my bills on time, and had no annual fee, I still made a lot of unnecessary impulse purchases. “You can do pretty much everything with a debit card that you can w/ a credit card EXCEPT spend money you don’t have.” That’s the greatest benefit if you want to get financially ahead! Owning a credit card is only a want. I do not need a credit card.
—Guest LeteshaFromTWest

You are wrong about car rentals ...

The majority of car-rental companies - all over Europe - keep asking for a credit card and shun debit cards ... So you had better contextualize your assertion regarding this subject ... Maybe what you wrote just applies to your country (U.S.A., I suppose ?).
—Guest Marcus

I want to buy a house

I want to buy a house so that i can rent it out and also go to school and work and car my mother can be with me in my home
—Guest John

BS

How's about you need a credit card because no one makes enough money anymore to cover all the stuff you just mentioned. Emergency fund with at least $1,000 in it?! Okkkk.
—Guest ashrose

yes

because it can help you go up with a opportunity. For example, if you need a house, car others it is good to have a credi card. I couldn't survive without credit card it's a very great thing for people.
—Guest Chris

Credit is a loan, not your money.

I've gotten into trouble with spending by credit card. My credit rating is good. So the trouble is simply not intending but over time adopting an attitude that credit is my money. However credit is never your money. It's a loan. And a loan that eventually tricks you into spending it as your money. I believe people are never bad with credit spending. Instead the nature of credit, which is being accessible money, lures people into perceiving it as debit money or their money. So I say credit, and people or businesses pushing other people to get credit cards is bad.
—Guest dotcablogger

I don't think you do

If u have a credit card and you need to make a payment for something, if you can't afford to pay for it at the time what difference does it make paying it off the next month. If you have car finance or a loan that's credit, having good credit is about paying bills on time, and it's alot cheaper cos credit cards will charge u stupid interest unless u pay it off in one go which not everyone can do. It's the reason why the economy is the way it is. People just need to learn to budget better and if they do they will get threw life much better
—Guest Patrick

Do not need a Credit Card

There is no reason to have a credit card. If you want something that badly, you will save for it! I got a car loan at 18 with absolutely no credit behind me! If you plan ahead and have an emergency fund, there's not a whole lot that can go wrong.
—Guest Brittany

Some Places will only accept cc

Sometimes you will have the problem of not being allowed to pay cash or debit. Where I live we do not have visa or mastercard debit; we have interac debit (which is excepted almost everywhere in stores). For online that is less likely the case (very rare) where you either have to delay payment by cash, check, bank transfer, or you need a credit card (one place I buy contact lenses from only takes credit card). For rentals or hotels, if you pay with debit (regardless of kind assuming it's accepted) is likely to have a hold larger than the cost for insurance reasons (eg. $100 will turn to a $150-200) and the remainder of the hold will be removed when you leave. You could get a reloadable card, and otherwise a credit card is not really necessary.
—Guest S

Do you need a credit card

I need a credit card only when I am traveling in advanced countries, so that I dont have to carry a bulk of money and it eases my travel. Once I come back to my own country, I will pay it full. Not single rupiah left for the credit issuer to make money out of my balance. I may not a good credit card holder for this company. But I am sure I will never ever let any card issuer play fool on me. I use cash for daily expenses and a debit card for doing groceries. I will never ever use any credit card for buying things that I cant afford. The reason is if I cant afford to buy something today, I will never be able to pay it any time in the future by the 'help' of a credit card. Debit card helps me alot to spend money wisely: got money you can buy it, no money dont buy it. As simple as that. Do have a simple life.
—Guest lilis

Do we really need a credit card?

NO. The smarter way to be out of debt is to live within your means. Why spend money that you don't have? It may help you build credit score but it only shows that you have debts that you need to pay. If you have debts then your lifestyle is beyond what you can afford. I never have a credit card, I used my debit card to purchase things. It helps me handle money wisely by not exceeding what I have. If there's something we want, we save for it then that's the time we buy them cash. It takes a lot of discipline and control. But you just got to do what you have to do to be debt free.
—Guest Maria

no if you get off the consumer bandwagon

I've had CC for years and TBH never felt they were any benefit to me. Sure it made impulse buying easier and it did add up to a number of points to get me some trips but overall all I got out of it was three "free" vacations after obscene amounts of points were accumulated through my purchases and little else. In fact I'm sure the interest I paid more than covered 10 of those vacations. It's a no-win situation imo. I make over 100,000/yr and decided long ago that my one ambition was to rid myself of CC. It's very liberating and tbh in 99% of your transactions they are unnecessary. Car rentals - ok but otherwise no. So if you really feel you need one get a no frills, no fee one that you can use for rainy days. Get it and keep it in the envelope you got it in in your desk or somewhere else unless travelling. That's what I did with mine. It's been 3 yrs and I still haven't opened that envelope but I can tell you I have recieved calls as to why I'm not using it.
—Guest sqd8r

Need CC for rental car. Try secured card

Although I got by for years with only a debit card, cash, and checks, I found that in certain locations, it is all hard or impossible to rent a car with a debit card. Also, despite believing what I heard for years about your rent and utility bills establishing your credit, when I pulled my credit report last year, I found that none of my rent or utility payments or anything of the sort showed up on my credit report. Please don't get me wrong. You can do 99.9% of what you want to do with debit. I have a secured credit card, which I use for a few things a month to build credit and to rent cars as I travel. With the secured card, you put down a security deposit, which becomes your credit limit. So, the temptation to borrow irresponsibly is significantly reduced. Also, it is easy to get. I tried to get a couple of cards in the past, but my lack of credit history prevented this, even though I have a nice income, savings, and have been on my own, faithfully paying bills for years.
—Guest Michael (different one)

Do you need a credit card?

Absolutely not unless you like the feeling of having a gun to your head by the maffia. If you don't have the money you don't buy and you will be able to payoff way more and save more and accomplish much more in life without that damn plastic. So believe what you want but look at our greedy bankrupt country and tell me if we need credit cards. Use a debit card and save your money.
—Guest walt

I need credit card

I require a credit card because I am in the travel business.
—Guest Bhushakumar

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Do You Need a Credit Card?

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