Do I really actually NEED a credit card?

April B: Do I really actually NEED a credit card?
Or is it possible to just own a debit card my whole life? People keep telling me that its a good idea to build up your “credit score” and blah blah blah, and then other people tell me to NEVER get a credit card because it will only drag you into debt! I am wondering if it is possible to never get a credit card? I know they help when you need loans and stuff, but if I can, I would like to avoid that mess altogether. Is there a time in your life, however, that you will NEED a credit card to do certain things? For example, I heard once that you can’t get on a plane or leave the country without one. Is that true?

Answers and Views:

Answer by With a Red Guitar on Fire ☼
That’s what I want to know! Apparently, I think they are good if you want to build up your credit. What you have to make sure is not to spend more than you can pay at t he end of each month. that’s when the trouble begins. Maybe just something small that you have otherwise bought on debit and pay for it at the end. I know it sounds troublesome. I rather just pay and get it over with too!

Answer by Ryan M
LOL…can’t board a plane or leave the country without one??!! Best laugh I have had all day. If that were true, then how do kids fly alone? I fly about 4 time a month and see kids traveling alone on EVERY flight. Having good enough credit to have a credit card is NEVER a travel requirement let alone a law. Yes, in theory it is possible to live without credit cards, however you might have a VERY hard time establishing credit without them. No one gives out mortgages or car loans to people with no credit.

Answer by boomn4x42
If you can afford to pay cash for everything using your debt card… then there is no reason to have a credit card, your debit card will work just fine. That is assuming that you will be able to use your debit card to do things such as buy a car and a house.

If, like most people, you don’t have a balance on your debit card to pay cash for a house… then you are going to NEED to have credit. Especially in today’s credit cruch, no mortgage lender is going to give you a home loan or even a car loan unless you have some sort of credit history. And that requires a credit card.

Answer by Laura B
Does your bank offer a card that can be used either as credit or debit? Mine does, and either way it’s used, the funds come out of my checking account. As long as it is a major card carrier, like Visa or Mastercard, it should suffice. You know hotels that require a major credit card to reserve a room? I have used that debit card, and it is accepted every time. If you can get one of these, you’ll never get into debt with it, or have to pay interest, but you’ll have “a major credit card” when needed those rare times one is asked for. We do also have a Mastercard credit card through our bank, that has no annual fee, and we use it for emergencies only (not like, I don’t have boots that match this dress emergencies, but like your father has been in a car crash 2,000 miles away emergencies). We probably carry $ 1,000 balance on it from our latest emergency, but it will get paid off soon. Good luck!!

Answer by Vic
you don’t NEED a credit card. and its NOT true that you need a credit card for a plane. i have a credit card and i barely use it anyway unless i really want to but something i really want but don’t have money for i don’t use it.

Answer by JustDoIt
You can certainly live with just a debit card. However, if someone were to lend you money in the future, it’ll help them make a positive decision on your case, if they have something to look at, besides your income proof. If they know you make consistent payments on your loans, they may be more willing to give you a better rate, for instance. That said, it is not absolutely necessary to use a credit card to build good credit history, but it’ll help the process if you use it responsibly. And here are some ways to help you do that:

I don’t think you will need a credit card to do anything; having one just makes it easier for certain things – like online purchases which don’t accept other forms of payment like Paypal. You may need one to be able to rent a car, or book a hotel – they may not use it and you can eventually pay in cash or debit card, but they may need it as some form of security should someone were to vanish without paying. I don’t know of any any restriction that you cannot leave a country if you don’t have a credit card – that would be ridiculous!