Have you really been seduced so far by the myth of the need to carry debt on a credit card in order to have a good credit rating that you really believe this? WAKE UP AMERICA!
Don't confuse carrying a credit card with being credit worthy.....
And what things will I miss in life? the joy of a monthly credit card bill?? I can't think of another single item.
You should educate yourself on the real cost of carrying consumer debt as a matter of course
Skiwi, I take it you're not that familiar with DH and his various posts around this forum. Nowhere did he advocate carrying consumer debt. I believe he means that having a single credit account is important for purposes of building a good credit history, on which a number of other life things hinge (e.g., being able to qualify for a mortgage, favorable employment credit checks, lower insurance rates). Wholly consistent with DH's post is to have/use a credit card, but pay it off in full every single month. That is the sort of responsible credit behavior that, over time, garners access to the better opportunitites for mortgage, insurance, etc. Are you saying that you have never ever held a credit card in your life? Are you saying that securing your mortgage (that is "guaranteed" to be 0.5% below the "going rate," whatever that means) was the very first use of credit you ever made in your entire life? And how do you know that you "pay less for insurance than [your] peers"?
No, I had a credit card when I was younger and wanted everything NOW. I've since grown up.
.5% lower than whatever the current ARM is, I have a split mortgage and my fixed portion is on similar terms.
Still use credit in a manner of speaking (phone, power etc)
And I know I have lower insurance using the same math as DH does when he tells me I'm paying more.....
. Actually it's very hard to compare as all policies have subtle differences that make them difficult to compare, I can only go on conversations I've had with others in a similar situation.
I just shake my head that the majority has been duped into believing that to not have a credit card is a bad thing, you can still get everything anyone with a credit card can, without the additional risk and cost.
You CAN have a good credit rating without a credit card