Am I the only one here who has gotten a good ways into their adult life without ever needing a credit card?
The only time it's ever been an issue for me is renting cars; we have a corporate Amex account for that, but I haven't gotten a personal Amex.
What is the huge advantage of having a credit card? I get that regularly using one builds your credit. But that's a circular argument. The people who care about your credit the most? Credit card companies. We've bought houses twice in the last couple years, and our credit history wasn't an issue.
I'm assuming you use a debit card, because I imagine it's very difficult to live on cash only (you need something with a number to buy stuff online, for one thing.) I used to have a debit card only, but it's a bit scary: whoever steals your debit card number (or the card itself) has direct access to all money you have in your checking account. If they steal your credit card number on the other hand, then (a) they can only get up to your limit (which I keep low) and (b) you can challenge the bill and not pay and you are protected by law in some way. As long as you pay the bill in full at the end of each month, you can't lose.
Sure. I also don't live credit-free; we've used installment credit to buy an appliance or two, and of course we've made car payments. But credit cards? What's the huge win?
As for debit card loss liability: I've had cards stolen numerous times, and I've never had trouble getting charges reversed.
The only time it's ever been an issue for me is renting cars; we have a corporate Amex account for that, but I haven't gotten a personal Amex.
What is the huge advantage of having a credit card? I get that regularly using one builds your credit. But that's a circular argument. The people who care about your credit the most? Credit card companies. We've bought houses twice in the last couple years, and our credit history wasn't an issue.