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Date didn't have a credit card

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Regular Contributor

Re: Date didn't have a credit card

My now fiance had no credit cards and no credit score when we started dating.

 

HIs parents had told him that debt was bad so getting a credit card was a really bad idea. He hadn't yet been exposed to positive ways of using credit cards.

 

So I showed him what I do, and as we dated longer I added him as an AU on my accounts, advised him to open a secured card, which he did, and now he has a very respectable score and is totaly on board with everything.

 

You never know!

Message 11 of 25
Frequent Contributor

Re: Date didn't have a credit card

I don't see how not having a CC would be a big deal... but I defiantly lose interest if a guy took me to an expensive restaurant and had his card declined and I had to pay oSmiley Happy 

"Your past is the doorway to your future"

Dad's words of wisdom

Message 12 of 25
Valued Contributor

Re: Date didn't have a credit card


@myscorerocks wrote:

If you're 45 and don't have a credit card... well, I can't date you. Can't rent a car or buy a house. Huge dealbreaker! 


You can rent a car and purchase a house without credit card(s).





Message 13 of 25
Valued Contributor

Re: Date didn't have a credit card


@MaizeandBlue wrote:

@myscorerocks wrote:

If you're 45 and don't have a credit card... well, I can't date you. Can't rent a car or buy a house. Huge dealbreaker! 


You can rent a car and purchase a house without credit card(s).


Some car rental companies will HP you and place a hold on up to $350 more than the cost of the rental if you reserve with a debit card.

 

Ideally by that age one may have saved enough to purchase a house for cash. If not, then manual underwriting for a mortgage is available but rare, and limits your options greatly. Even Dave Ramsey has talked about putting down large deposits for housing and utility service, though he somehow considers credit far worse.


TU FICO 8: 774 (1/19) — Ex FICO 8: 751 (2/19)
Message 14 of 25
Regular Contributor

Re: Date didn't have a credit card


@GrasshopperStudent wrote:

@MaizeandBlue wrote:

@myscorerocks wrote:

If you're 45 and don't have a credit card... well, I can't date you. Can't rent a car or buy a house. Huge dealbreaker! 


You can rent a car and purchase a house without credit card(s).


Some car rental companies will HP you and place a hold on up to $350 more than the cost of the rental if you reserve with a debit card.

 

Ideally by that age one may have saved enough to purchase a house for cash. If not, then manual underwriting for a mortgage is available but rare, and limits your options greatly. Even Dave Ramsey has talked about putting down large deposits for housing and utility service, though he somehow considers credit far worse.


Ramsey has some solid advice. His strongly negative feelings on credit cards is curious. I don't understand his reasoning. I use credit cards as a convenience, for rewards and to avoid carrying too much cash. I PIF each month so I really don't see the harm. Maybe I'm missing something. 

Message 15 of 25
Frequent Contributor

Re: Date didn't have a credit card

Not having a credit card doesn’t necessarily mean they are unable to get one (i.e. they have terrible credit). The former is a quirk, the latter is a problem.
Message 16 of 25
Valued Contributor

Re: Date didn't have a credit card


@GrasshopperStudent wrote:

@MaizeandBlue wrote:

@myscorerocks wrote:

If you're 45 and don't have a credit card... well, I can't date you. Can't rent a car or buy a house. Huge dealbreaker! 


You can rent a car and purchase a house without credit card(s).


Some car rental companies will HP you and place a hold on up to $350 more than the cost of the rental if you reserve with a debit card.

 

Ideally by that age one may have saved enough to purchase a house for cash. If not, then manual underwriting for a mortgage is available but rare, and limits your options greatly. Even Dave Ramsey has talked about putting down large deposits for housing and utility service, though he somehow considers credit far worse.


 

My point is that it is entirely possible to rent a car or buy a house without having credit cards.  They may be some hurdles to accomplishing both; but it can be done.

 

BTW, has anyone commenting in this thread looked at the OP's posting history?  She isn't exactly a model of financial rectitude so its amusing to me that she would look down on anyone for not having a credit card.





Message 17 of 25
New Contributor

Re: Date didn't have a credit card

I can't really say why he seems to have such an adversion but I know for some people (Well maybe a lot) that having credit cards do make you buy and spend more than you would if you were paying with cash. With Direct Deposit, autopayments, and may other ways of making and spending money without even having it in your hand, it just becomes a 'floating' number in the back of your mind of how much you think you spend vs what you really spend. I know I've been guilty more than once of looking at my CC statement (Even though I pay in full once or twice a month) and going "Whoa".

FICO 08 (12/28/15): EQ: 582 TU: 561 EX: 589

FICO 08 (04/03/16): EQ: 684 TU: 711 EX: 704

Goal: All:750+


FICO 08 (08/27/18) EQ: 738 TU: 734 EX: 729
Message 18 of 25
Frequent Contributor

Re: Date didn't have a credit card

@MaizeandBlue wrote:

 My point is that it is entirely possible to rent a car or buy a house without having credit cards.  They may be some hurdles to accomplishing both; but it can be done.


I completely agree with you.

 

Between 1970 thru 1990, my father purchased several houses without every having open ANY line of credit, and that includes any store credit like Montgomery Ward's or Sears. Between my Grandfather & Uncles, there are 7 men in my family that have done the same thing between 1950-2005.

 

Ancedotal? Possibly. But while manual underwriting may not be the statistical norm, it's not the unheard rarity that people make it out to be. It's actually extremely popular within the Asian & Latino communities to be anti-credit card and cash only. Are they getting the best APR for a mortgage? Probably not.

 

Even Dave Ramsey calls manual underwriting a "rarity" so he can plug his own sponsor. Simply not true. Many banks do this. There is a difference between "a lot of people don't do this" versus "most banks don't do this so good luck finding one".

    EQ=823        TU=816         EX=807      INQ=1/2/4     UTIL=1%         AZEO
Message 19 of 25
Regular Contributor

Re: Date didn't have a credit card

I’ve been married for almost 19 years. With that said, if I wasn’t and the relationship was getting serious, some explaining would have to take place. Not so much about having a credit card or not, but overall financial health.

 

I’m adverse to payments. Period. 

I don’t have student loans. I’ve learned this is attractive to females. I would never act on it, and I’m no Mr Universe in the looks dept, but I’ve had some choice looking a$$ hit on me a time or two. Lol. Friggin gold diggers.

I don’t pay credit card interest.....I learned the hard way in my early 20’s that credit card interest is something that morons have to deal with.

I don’t have car payments. Most car dealers hate me. The nut they make is usually not as good on cash purchases.

I don’t have payments for furniture, appliances, and electronic gadgetry.

I don’t co-sign. Period. Your problems will not become my problems.

DW is a coupon clipper, but not one of those extreme couponers. She also understands math. Just that it’s on sale doesn’t necessarily mean that it’s really on sale.

 

Living below our means and on a budget have given us financial freedom. We put math before emotion/impulse. Or said another way......we “think more” and “feel less”.

Message 20 of 25