|
Some people use credit as a last resort, to keep money flowing when jobs fail or medical bills overwhelm them. And I can't blame them, but unless money starts flowing again soon they're making their situation much worse, long-term.
That said, I don't see a pressing reason why a young person with an income would ever need a credit card. If you don't need credit, building a credit history in that way is irrelevant. Just save your money and pay your bills on time, and when it comes time to buy a house or something, the mortgage company will still be happy to see you provided that you have a good job and the required down payment.
I bought a house once and the mortgage company brought up the fact that the credit companies had _no_ record on me, and it made them nervous. They never said why; I speculate they worried I might be some credit scammer who owed money under multiple identities. In any case, all I had to do is sign a letter stating that the reason I had no credit history was that I didn't believe in credit cards. Then I got the loan.
|