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HaveNoCreditCardDebt

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Why does everyone NEED a credit card?
I had 4 in the past. I paid 3 of them off and closed them. The last 1 was a problem that was also settled. I no longer use, nor want to have, a credit card (which carries interest & an annual fee). I pay in cash,check or debit card. Why am I punished for having NO credit debt?

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there are credit cards without annual fees....or low tier ones for average credit like Capital One Quicksilver One Mastercard....has 1.5% cash and an annual fee of $39 so if you spend atleast $2,600/ year the cash back pays the annual fee by itself.....and also if you PAY IN FULL every month when the statement comes in you don't pay interest....the reason everyone should have a card is to show that they are or aren't financially responsible....as long as you pay on time and pay atleast the minimum (in full if you don't want to pay interest) and only use 20% of your credit limit ie: $1,000 limit use between $10-$200 not over yo $200 to maximize your score potential....YOU GET REWARDED....cashback for being responsible card holder and high credit score means you gets lower interest rates on more expensive items things like car loan and mortgage.....mortgage alone if you have say 620 credit score compared to someone with a 730 the $$$ amount in savings will be over $80,000 in interest even in these historically low interest rates

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I had good credit and bought a home.

I am now in a position to pay in full for anything I need. Why would I pay interest on a card when I can just use a debit card connected to my account? I believe the idea should be NOT to buy something you can't pay for; but thats not my problem. The problem is ,is that since I pay in full for everything , my credit score dropped to below poor even though I have no outstanding debt. I paid cash (check) for my car, I pay a full years car, health insurance instead of monthly. Your credit score should reflect your financial responsibility and I owe nothing but a monthly mortgage. I am being penalized at this point because even if I tried to bring the score up ; the credit cards are 22.9%. That percentage for anything but loan sharking should be illegal. I am considering just getting a personal loan at my bank just to increase the credit score. How insane is that?

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Pay in full

Also , when you pay your credit card balance in full each month , you are NOT gaining any credit. It is when there is a balance and you pay faithfully that the credit is established.

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The key to successful credit card ownership is using no more than 20% of the available credit limit in any one month so you can pay off the balance in full when the bill comes in, and not have to pay any interest.  Credit cards are required to make airline or hotel reservations, and most online purchases.  They are very convenient, but only if one has the maturity to use them correctly.  It sounds as if you don't, so you may be better off putting up with the inconvenience of a card-free life.

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