The Pros and Cons of Going Without a Credit Card

In today’s society, it might be a little unusual to not carry a credit card. However, do we really need credit cards or can we get along without them?

Advantages

No credit card debt – 
Having large credit limits is tempting to spend more than you can afford to pay off.

Better purchasing decisions –
Credit card users can based on wants but when using debit or cash, buyers often purchase out of necessity.

Having less threat of theft – 
Paying out of pocket is more secure than putting your credit number online and keeping your card safe from scammers.


Disadvantages

Travel hassles – 
Many travel accommodations and services require that you have a credit card to book a reservation.

Credit history –  
Credit card use is a major factor in many people’s credit reports.

Emergency funds – 
Having a credit card tucked away can give you a sense of security. Protection from fraud – While both credit and debit cards generally come with limited liability however, a credit card has extra security.

Have you considered living without a credit card? Leave us a comment below or on Facebook (click here)!

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