What are the pros and cons of never having a credit card?

What are the pros and cons of never having a credit card?

there are no pros if youre currently using a visa/mastercard debit card already and make sure to permanently and officially blacklist yourself from all credit card solicitations

pros: rewards
cons: only retards bad with money get affected by the cons

+1 to this, I have the Discover It card and I get 5% off everything on Amazon and just about 1% on everything else. If you aren't a literal pile of steaming shit who can't manage money, then get a credit card.

There's only pros if you can handle the responsibility (don't run a balance month to month, pay in full every month.)

The only reason not to pay for something with your credit card is if there's a fee associated with the purchase greater than the potential rewards you could gain (For example $1000 purchase with 1% cash back = $10 rewards less $15 credit card merchant fee = net loss $5), or they only accept cash (i.e. drugs)

So the pros are
1.Rewards
2.History of credit
3.Better fraud protection. If your card is compromised the credit company is out the money, not you.

I've been on the Dave Ramsey plan for a couple years. I don't worry about my credit although my wife does. I don't have a car payment, I don't have debt, everything I make from my current job goes towards starting my own company next year.

There are definite drawbacks to being without credit. If you ever want to go back to using credit, it is going to be a nightmare to get started and develop a history. I've heard it is more expensive getting auto insurance although this personally hasn't affected me.

For what it's worth, I personally enjoy living without it. You can still get approved for a home mortgage, you just have to find a mortgage lender who offers manual underwriting. There's really no major benefit to it as opposed to being responsible with a credit card and paying it every month. Again, it goes back to how it personally makes you feel, something which can't be measured in dollars. At the end of the day, if you can afford everything in cash with a massive emergency fund, live within or below your means, and invest for your retirement, there's no real difference between a responsible credit user and a non credit user at retirement age aside from a FICO score and maybe a few extra dollars from credit rewards.

here's what i think as far as life is concerned

get as many cards as possibleas many credIT cards, especially
in fact,
i need one..,right
about now!.

well if you adhere to a simple rule of life credit cards can't hurt you:

never spend money you don't have!

if you only spend money you have it's basically throwing money around between your balances and you reap the rewards like cashback.

Pros: living that citi double cash life.
2% cash back on everything. Gas, groceries, utilities, insurance. Fucking everything. Sure it's just 2 percent but it's like free money in exchange for using a more convenient and safer form of payment. Never paid a dime of interest.

>cons
Basically none unless you are a degenerate.

>double cash life
what exactly are you on about here?