Is there any problem I could possibly encounter by not having a credit card & not ever intending to get one?

Answer 1

A Visa debit card works just as well as a credit card when it comes to renting cars, reserving hotel rooms, buying things online, etc. I don't see why you should have any logistical difficulty for those kinds of things.

But if you ever want to borrow money to buy a house or a car, you will need a credit history. The easiest way to build a credit history is to get a credit card, use it for things you can afford to buy out of current cash flow, and pay the bill in full each month.

Credit cards aren't evil. If you use them responsibly they won't hurt you.

Answer 2

Well, you could run into the problem of not being able to get in on one of the biggest class action law suits in world history in the coming years as all these fees become too much for the economy to bear!

On a more serious note. Good for you, you will not have headaches about due dates and finance charges. As stated before, getting a debit card with a Visa or MC logo should be enough to make any internet purchases or reservations, but those aren't credit cards.

If you did want to get a credit card and want to be able to pay it off immediately, find a store or place that allows in person payments. I know Sears does this. You can get a mastercard there, buy something with it, then as soon as the transaction is done with, make a payment to that accont for the exact amount. It's a nice little credit building trick. All it takes is a few extra minutes per transaction.

But otherwise, don't go there if you don't have to!

Answer 3

I'm afraid so. You are not considered an acceptable customer by many, many businesses if you don't have at least one credit card. Without one you can't:
buy anything online
rent a car
order over the phone
buy anything expensive without the cash in hand
make a travel reservation
cover emergency expenses, like car repairs or medical
and lots more. The people who say you don't need one must live very simply (poorly) and "hand to mouth".
I've never gotten a loan for anything, ever, but by paying off credit cards every month (almost always) I've gained a credit limit that exceeds my annual income. Fortunately, the credit card companies don't know that.

Answer 4

You won't build a credit record, which means you'll have problems getting loans when you want to buy a house, or car, or perhaps start a small business. Some businesses require a credit card as a second form of ID. Also, you'll always need to have cash on hand.

Answer 5

You are smart not to have one if you can get by without one. You can build credit by making small loan purchases, such as a washer or dryer etc. and making payments, but don't be late with your payment. You can make a few payments and them pay it off in full. You can do the small loan thing several times and build a good credit rating.

The only time you need to have a credit card is to make reservations for a motel.

When you have a credit card, it's a good idea to get a new number every so often.

You build credit when you buy a car.

Your rent and utilities are also proof that you pay your bills on time.

Answer 6

I have the same problem at the moment as I dont really know how to set up my money card/bank structure.

After a little research I decided to get a Nationwide bank account (Debit Card) which id for free and allows me to get CASH world wide at no charge and on the other hand a Pre Paid Credit Card. You dont need a CC if you dont leave the UK. But abroad a PP CC helps paying, reserving and renting things. I havent decided on the PP CC yet but I have a question running on Yahoo so look for it if you want to know more.

FJ

Answer 7

i actually don't know the specific answers to this question, but i can say that since the (US i'm assuming) economic system is set up specifically to keep people in debt and cash is becoming more and more difficult to use, my guess is yes. It just means things won't happen as quickly and you won't have the same opportunites to 'get ahead' as fellow Americans who are in debt.

However, i wanted to answer this because i don't have any credit cards and i never will and i applaud you for even entertain this idea. There will be obstacles, but personally, i think the peace of mind is worth it.

Answer 8

I had a friend that tried to do that. Wow, was he miserable. We would travel together on business. Couldn't rent a car. The companies wouldn't take cash, even in advance. Had problems registering at a hotel. Like it or not, they are a requirement in today's society. On the other hand, if you get one take a great holy oath to pay it in full every month, even if you go hungry to do it.

Answer 9

You would not be building a credit history, and you would always need to have cash.

Answer 10

no problem,I just gave my credit card up