Reply to Anyone else not have any credit cards & why does it hurt my FICO score?

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Reply to "Anyone else not have any credit cards & why does it hurt my FICO score?"

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[quote=Anonymous]OP, I felt the same way as you for a long time.  I still had a credit card, but I'd only use it to buy big things (like plane tickets) that I would pay off immediately, but just didn't want to worry about cash flow for the charge.  Then my DH convinced me to try his way of doing things, which I was REALLY resistant to at first.  We charge anything and everything we can to a credit card with a rewards/points system.  We get between 1-3% on each dollar spent back in the form of rewards.  We almost always take the cash option yearly and use it to pad our savings.  We have NEVER paid a late fee and we have no annual fee for the card.  It's free money IF you pay it off in FULL every single month.  We actually pay 2-3 times a month to keep up with it.

Your credit score is all about how you handle credit.  If you aren't handling any credit, yes it dings your score.  Of course my DH has a slighter higher score than I do, since at one point he wracked up credit card debt (before he knew me!) and then paid it all off.  That sends your score soaring because you made them money, while also paying it all off.  I don't recommend that route at all though....[/quote]

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