Originally Posted by
jimmy28303
thats why you should live on a cash basis, without credit. you dont need it! its simple, if you cant afford to pay cash for it then you dont need it. If an emergency comes up, then thats why you have 3 to 6 months of salary saved up. GO DAVE RAMSEY!!
Thats how I roll myself.... but it is a two edged sword.
In order to earn credit, you can't just not have marks on your credit score... you have to show that you will make payments on time. If you haven't ever had to pay anything off.... then you have no credit at all... and sooner or later if you want to have anything in life... you are going to have to take out a loan... be it for a home, or property, or a boat or whatever. And if you just have $45,000 in cash sitting around or even just sitting in the bank... you are missing out on putting that money to work in CDs or other investments.