Can we live in today's world without credit cards?
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I have to say no considering the fact that our credit scores are pretty much based on our spending and payment of these cards! I don't like it and hate using credit as a means to boost my score! Being a Resident I have to gain a reasonable credit (like most.)before I can even think about a house and so it can put you into a slippery slope! Allot of people fall into the credit crunch trying to better themselves and land themselves in debt, just what these companies want and desire!!!!! I'm just thankful for the government stepping in and putting a cap on!!! I think this will help but I feel that they still have you hand over foot! I'm just glad I don't have many!!!!!
Yes, we could live without credit cards, but our economy, which has become very dependent on spending for consumer items, will likely retract significantly. Lots of businesses are reliant on credit based sales. Some like Circuit City have already closed down, but there will be others in the near future. Look for new developments there after the holiday season. Credit isn't simply as available as it has been for the past 20 years or thereabout. In fact, certain retailers like K-Mart and Target are bringing back layaway, and are advertising this aggressively.
Sure, in fact the barter system still works too if you are prepared to invest the time in cutting deals and live with the choices of goods and services available to you.
I don't have one, but I do have a debit card. If you have a Visa or Mastercard debit card, you have the convenience of using a credit card, but not the ability to spend more than you have. Debit cards work just fine for probably 95% of things that require a major credit card. The one thing you can't do with a debit card is rent a car from many major car rental companies. The National folks at O'Hare got a piece of my mind on this one. I got the car, but it wasn't easy. Sometimes being 6'4", 250+ lbs. with a beard and a low, loud voice comes in handy. Somehow I don't think my arguments would have been taken as seriously if I was a 5'2", 120 lb. tenor.
Yes it is possible to live without a credit card... I've never had a credit card nor do I intend to. I understand the need of why people need them as well. Sometimes things are unexpected and require expenditure that you can't afford - this is when people end up using their credit cards to accumulate a debt that they intend to pay off at a later date. I can't say this is a bad thing, nor that it's avoidable for everyone; but I think there are many cases where they are used without necessity.
All kidding aside, it looks like a very large portion of credit card holders aren't going to have much of a choice in this matter, as major credit card companies have begun reducing and denying credit to card holders. In the wake of the sub-prime crisis and as the focus on giving credit is shifting to Asia, many people are discovering credit shock when they open their mail...even when they are out there in the market, trying to make a purchase. 50% (up from 20%) of card holders have been hit (reduced or denied) for various reasons, from "getting caught" making purchases along side poor risks at a WalMart, to reducing lofty balances, to the neighborhoods they live in. Most any excuse will do This is a giant thread being pulled out of the fabric of free enterprise in the U.S., as many small companies relying on their credit limit to keep things up and running are being forced to scramble, denied access to the goods they need to run their businesses and, many times, down-sizing, or just s... Read more
I have NEVER had one.
Been doing it for three years now, its great. But should a really serious emergency arise, I'll be damn glad I have one.
Not really. They are a very convenient way to meet your goals, be they purchasing across town or online. It is so easy just to whip out the card and pay all the bills at the end of the month. Carrying cash around is a hassle; especially trying to balance off not carrying too much and having enough to spend.
Put it this way, I don't have a credit card and I'm doing fine! The only reason some people may not be able to live without one is because they have become too dependent on them and they may not be saving. If you depend on something, you usually feel you can't live without it. But once that thing has gone (credit card), then you will realise that you didn't need it as much as you thought you did.
YES WE CAN! Five years ago I closed mine, cut them up and haven't had ONE since. They all send me the Pre Approved stuff daily but I shred it!
Credit cards sould be viewed (and used) as a convenience only. If you can manage to use a credit card with no annual fee, and to pay off the balance every month, you're ahead of the game (i.e., no debt, and borrowing money short-term at zero interest). Basically anything other than that and you have just asked the bank, or card issuer, that you want to be taken advantage of and will pay them handsomely for the privilege. There are other ways to pay your bills withoug getting into a bunch of debt.
Oh yes, you can live without them--but it is sure convenient to have them. I rarely use cash any more. The trick is to pay them off every month, no exceptions, EVER.
It's a little inconvenient, but we're better off without them. And yes, you can live without them