Live life without a credit card – some useful tips

Monday, November 29th, 2010

A person’s credit score is very important as we are all well aware of by now. These credit ratings are used in the most unusual places and unusual scenarios. It is used as a tool by prospective employees, potential landlords, auto loan companies etc. In spite of the laws governing credit card information it is still being widely used for various pieces of information.

What are the options if one wishes to do away with the credit card or if one wishes never to get into a credit card mess by not owning a card? If one wishes to live a life free of the credit card with its added miseries then it is possible and there are ways to do it. Although living a life free of credit or without borrowing is very difficult it is not impossible.

Using the debit cards – the benefits of using a card is that it is convenient to carry and it is used as a substitute for cash. The added advantage is the consumer protection that comes with the card. However, with debit cards one can get similar benefits with respect to consumer protection minus the hassles of applying for credit. When a checking account is opened the bank will usually use the credit information for identification process only and it would not be used to either accept or deny the account on the basis of the credit scores.

Debit cards could be used instead of credit cards in most places. There will however be some pre-authorization charges that would be levied. Authorization would be placed on the account for open-ended purchases like car rentals, gas pump charges etc.

By using a debit card one can avoid any records regarding credit account on the credit report. One must avoid all forms of mortgages such as auto loan etc. any loan availed from a financial institution would be reflected in the report so, in order to avoid that one would have to borrow from friends and family or alternatively wait to save the entire amount. This would certainly be the most difficult part more so if one wishes to own a home.

Even if one wishes to live without the card it is important to review one’s credit report each year. There are chances of one’s credit being stolen and misused; hence it is advisable to be vigilant at all times. The credit report will look bare without information. Credit scores are used in most places but if one can live without a card these tips should help to some extent.

Latest Fair Credit Credit Card News

Tuesday, November 22nd, 2016
Holiday shopping seems to start earlier every year, but this year more than half of people surveyed by Synchrony Financial said they would head to the stores even earlier, in ...
Friday, July 8th, 2016
Everyone knows it’s important to have money saved up in case of emergency, but just because something is common knowledge—and common sense—that doesn’t mean people necessarily ...
Monday, February 29th, 2016
The uptick in the American economy is good news for people seeking lines of credit. While the recent Federal Reserve interest rate some people saw hike as bad news, it’s actually ...
Tuesday, September 29th, 2015
Four in five people don’t know that carrying a high balance on their credit cards can hurt their credit rating, even if they never miss a payment due date.
Friday, May 16th, 2014
Today many credit card offers claim to have the best rates and benefits, but when it comes to finding the best one for your financial needs, you should read the fine print. It is ...
Best Credit Offer
Click the Compare link to compare the checked cards side-by-side at the comparison table.
Consumer Rating: 4 / 5
Pacific Credit Group Emporium Black Card
Copyright © 2001-2016 BestCreditOffers.com All Rights Reserved.

* The BestCreditOffers.com.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. BestCreditOffers.com.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the BestCreditOffers.com.com website are property of their respective owners.

BestCreditOffers.com makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that BestCreditOffers.com may be compensated by the credit card issuers when the readers apply for a credit card through this site.

BestCreditOffers.com is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. BestCreditOffers.com does not review or list all available financial or credit offers.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.