I'm European , 41 years old and I' ve never had one...
2007-10-26 06:16:43 · 9 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I think the major argument people will make is that it's possible, but it'll be hard to build credit, which isn't exactly true. If you don't have a credit card, but you need a loan for a home or car the difference will be that you need someone to co-sign on that loan. I had a credit card for two years before applying for a car loan and still needed a co-signer. Then when I applied for a home loan I didn't need a co-signer primarily because of my credit history through my car loan. From all that I gathered credit cards are pointless if you're just using one to built credit history. They'll still good to have if you make online purchases though.
2007-10-26 06:54:31 · answer #1 · answered by mplsundin 4 · 0⤊ 0⤋
Possible, but quite inconvenient. Reasons are that many services (such as car rentals, hotels, etc.) demand a credit card to 'hold' a reservation. Additionally car rental firms many times require a substantial cash deposit over and above the cost of the rental, as a means of protection.
You CAN live here without a credit card, but I would recommend one for these assorted occurrences.
2007-10-26 13:48:47 · answer #2 · answered by acermill 7 · 1⤊ 0⤋
Yes, but if you choose not to have credit cards, it's harder to build your credit rating to get things like a car loan or a mortgage. Living cash only is best, but sometimes you NEED credit for a house or education.
2007-10-26 13:26:20 · answer #3 · answered by magy 6 · 0⤊ 0⤋
Of course you can! That's why we have cash. But it would be wise to atleast have a credit card for emergencies. It also is good to have a credit card so you can build up your credit. With credit, you can make large purchases like homes, cars etc.
But technically, if you have enough money, you can purchase a home or car with cash.
2007-10-26 19:46:28 · answer #4 · answered by Windowguy19 3 · 1⤊ 0⤋
Yes! Just use a checking, savings account or cash.
Only time credit would be a problem is if you wanted to purchase a home or make other large purchases to prove you have a good line of credit.
2007-10-26 13:24:13 · answer #5 · answered by Doz 5 · 1⤊ 0⤋
I haven't asked any of them, but I would imagine the guys I see sleeping on the park benches at night don't have a credit card.
2007-10-26 13:24:28 · answer #6 · answered by timbers 5 · 1⤊ 1⤋
Absolutely!
2007-10-26 13:19:56 · answer #7 · answered by CupCake 5 · 1⤊ 0⤋
Yes its possible
2007-10-26 13:50:55 · answer #8 · answered by lyricmemphis 3 · 0⤊ 0⤋
i`m 44 and have never had one. my grandfather used to say, if you can`t pay cash you can`t afford it.
2007-10-26 13:21:41 · answer #9 · answered by Phil Deese 5 · 1⤊ 0⤋