Why does everyone think that you have to have a credit card or credit score to makit it in life?

Question

im just curious ive always been told its a must but im making it just fine ... i believe that credit cards are ruining this country and only bringing debt . i also believe that if you buy small things every month just to pay off and have good credit that the credit card companies will always try to find a way to s***w you over. ex: not posting the bill at the correct time. im just sick of everyone around me covered in debt saying i wont survive or be able to buy a house without a credit score

Answer 1

People say it's "necessary" - because it is! Unfortunately, at some point you'll need to build some credit if you ever plan on buying a home. Banks WILL NOT lend money to someone without any track history. Unless you can save $100K or more to purchase in cash... you better start building up some credit...

Answer 2

Our culture is geared towards massive consumption.

Many define themselves by their possessions.

Some items are too big to purchase in cash, yet there is still demand for these things.

Now, realistically, there is a need for credit cards if used properly and responsibly, but of course not everyone is responsible.

What is really stupid, as far as I am concerned, is the fact that FICO scoring is so easily gamed by those with credit cards. Couple that with the fact that the US has no real safety net to take into account good people who fall on hard times (unexpected medical catastrophes, lost jobs, etc.), and you really begin to wonder why we even have this system in the first place.

Answer 3

The wealthiest people in America have a FICO score of zero.  Credit cards are the sharecropping of the modern age.  They are enslaving a generation.  Never use them and you will see a freedom that is hard to believe.

Answer 4

Is it absolutely asinine?  Yes.  Necessary?  Unfortunately so especially in the job market and everything else in life.  It dictates how responsible the person is.  If you fail that MUST mean you will not be good for the company since he/she cannot take care of there own personal finances.  Everything else would mean well, you can't pay the bills so how can I rent to you, put on your gas and electricity, etc.....  I also agree regarding the way these a**holes post payment.  I am always fighting at least every 3 months.  The most recent with chase bank (AGAIN!! STAY AWAY FROM THEM.)  I paid my account in full over 4K and when I returned from vacation I still owed over 200.00 dollars?!  How?  Oh well, that statement and bills didn't come in until a day after your call.  Yeah right.  How do you deal with them.  Fight!

Answer 5

well everyone's situation is different. Take transportation: most people drive. Some, like you choose to avoid driving all together and ride bikes, do alternate transportation, walk etc. but one day you really want to get a car. The dmv is going to be wary because you have never driven. Now sure you have saved yourself lots of accidents(extreme credit card debt)  and tickets( maxing your cards out past 30%) and you have proven responsible at that, but they still don't know how well you drive. you may very well be the best, safest driver(sound responsible credit holder) or you may get dui's(go crazy in debt) they have seen all types so they dont take anything for granted.So you have to take a permit test, and a drivers ed test(to see how you do. hoops by lending companies) before you will get that drivers license. Its important to know that having no credit can actually hurt you for all the reasons i mentioned above thru the metaphor. you want to know the difference between predatory type credit lines with high interest rates supposedly for beginners. good luck. oh and you do need a credit card or some type of credit  to show responsible use and your ability to be trusted.

Answer 6

you can build your credit at this site:

http://credit-reporting.flyairfares.com/...