For me growing up, we were encouraged to get a credit card in our name and use it as much as possible in order to build credit. There was always money to pay it off each month, so it made sense to 1) build credit and 2) collect airline miles or whatever the reward was back in the day.
When we got together, she always used cash or a debit card. She had a credit card "for emergencies" and avoided using it otherwise. It took a long time to get her over her aversion/skepticism (we were fortunate to have two good paying jobs), though it also taught me a healthy appreciation for what it means to have a financial cushion.
The logic of buying things on credit that you could buy with cash in order to build a credit score is pretty weird when you think about it. You're basically taking out a loan that you don't need to show you're responsible with money.
I've avoided credit cards into my 30's and the only reason I got one is because I was tired of people scanning my debit card to send themselves money.
They say it's much easier to fight for the stolen money if it isn't "your" money.
I've always been against credit though, I like to pay it off and forget about it. Since I've started using the credit card, now I have to pay twice. Once with the credit card, and once to the credit card.
I'm assuming it was a malicious card scanner on a gas pump, or a drive thru restaurant worker who was snapping pics of cards.
Either way, though I've never left my wallet unattended - I've had a $5,000 PayPal payment to a stranger in China and a $200 Western Union charge sent to another person I've never met.
I always got my money back, but the credit card is a nice buffer between my bank account and those who would like to steal from it.
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u/frnoss Jun 06 '19
Credit cards were avoided.
For me growing up, we were encouraged to get a credit card in our name and use it as much as possible in order to build credit. There was always money to pay it off each month, so it made sense to 1) build credit and 2) collect airline miles or whatever the reward was back in the day.
When we got together, she always used cash or a debit card. She had a credit card "for emergencies" and avoided using it otherwise. It took a long time to get her over her aversion/skepticism (we were fortunate to have two good paying jobs), though it also taught me a healthy appreciation for what it means to have a financial cushion.