Originally Posted by
hotshot
Ive never had a credit card, only debit cards, is it really worth the time and fees that banks charge to get airline miles, hotels, etc?
I think I have read probably some of the dumbest things ever in response to your question.
LISTEN UP PEOPLE
You DON'T need a credit card.
1. You build credit by paying bills on time. For example, phone, electric, cable, etc. You even build credit for showing rent payments on time. YOU DO NOT NEED A CREDIT CARD TO ESTABLISH A CREDIT HISTORY.
2. Since you have a debit card, you can do everything you want with it instead of using a Credit Card.
3. "But you need a credit card for emergencies". Not if you plan correctly and have a contigency amount of cash set aside in one of your accounts.
4. "If you have a credit card, you get rewards". Credit card companies are in the business of making money. And because a lot of people can't pay their bills on time, and the fees associated just owning a credit card, they can afford to give cheap rewards in order to keep you slaved to them. If you are the type to pay your account on time each month, you can do this if you have a no fees credit card ... which is increasingly becoming rare to find.
The verdict. Unless you plan on using money that you don't have ... which is the only reason why one would have a credit card ... and a very dangerous game to play, DON'T own one. You will find the riches people out there are those that don't.