The young and the creditless: Millennials ignoring credit cards
The cash-only lifestyle adopted by many Americans aged 18-29 isn't helping them build the credit they'll want later in life.
This post comes from Shelby Bremer at Credit.com.
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Hopefully others will follow suit. Debit cards are so much better to be using these days, as long as you have good fraud protection on the card.
My bank doesn't charge any fees or interest on the card. I can use it to avoid ATM fees by getting cash back at grocery stores.
Live within your means, people, and you'll be so much better off. There really isn't a good reason to have a credit card these days, unless you're well off and don't need to worry about getting nickled and dimed to death.
Told my daughter, no store cards, only one credit card (from the credit union). Use it to purchase gas or something small and pay it off in two payments. She's done this since she turned 19 and has a credit score of 798. She's getting ready to buy her 1st house on her own, and she'll have this accomplished before her 26th birthday. You don't have to go into debt to make credit, it does help with your car insurance, and some jobs run credit scores on you also.
Be smart, don't charge more than you can pay off in 90 days or less. I charge my tires on 90 days same as cash and make three monthly payments, same with appliances, and building materials etc. It builds credit, if you use it wisely.
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