Have any of you given up using credit at all successfully?

1. 39

   ChristinSposted 12 years ago

   Have any of you given up using credit at all successfully?
   
   We are trying to pay off the mortgage early and have given up all credit cards and have no car payments etc.  Our goal is to live completely debt/credit free asap.  It is definitely easier said than done! Have any of you done this successfully and how did it impact your life?

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2. 61

   beherdtennisposted 12 years ago

   i will say that i am no longer in need of a credit card, but i still use it to gain the perks and rewards from it. we pay the card off automatically in full each month, but use it for almost all our purchases. that way, every dollar we spend we earn a point that we can turn in for airline miles, hotel stays and many other free perks.
   
   I have often heard of this being called the "credit card float" and actually wrote a hub about it.
   
   so to answer your question, that is awesome that you are no longer "in need" of the credit card, but used properly, you could be leaving some money on the table by using it wisely and having the right card. the right card meaning no annual fees, having an auto pay feature, and no restrictions on your points. 
   
   we have been using our Credit card for well over a year, and plan to fund both our plan tickets and some of our hotel stay with the free money earned by using the card for a trip this summer. all the while we have never paid a cent in interest or fees.
   
   I find it fun when you find little ways like this to "get around" the rules.
   
   hope this helps!

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3. 91

   Rochelle Frankposted 12 years ago

   I like my credit card. I gives me a detailed account of spending, and I don't have to carry much cash. This is especially helpful when traveling. Like, beherdtennis, I also pay it off every month and never carry a balance. Have always done it this way, so there was no impact on my life. The mortgage has been paid for years, so no interest charges to worry about. Also the vehicles are paid for (we keep them a long time) and pay cash when the time comes for a new one.

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4. 60

   duffsmomposted 12 years ago

   We have done it.  My last job, when I got hired we used my salary specifically to pay off all credit cards and get some things done around the house.  We had planned to start working on the mortgage next.
   
   First we each had a car payment and we paid mine off first, then doubled the payments on his until paid.  We had two credit card balances that weren't to bad so they went next.  Then we started getting some things done to the house, new garage doors and some other seriously needed maintenance. 
   
   It was such a relief to have those debts gone and it felt so good, we were not tempted to do it again.  We now use the cards only if it can be paid off at the next paycheck.  We rarely do use them.
   
   Unfortunately, my husband was injured and is now on disability which is far less than we had before so now my small salary goes to living expenses.  But thankfully we only have the mortgage as debt.  Wish we could have gotten that taken care of.

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5. 59

   nybride710posted 12 years ago

   I have, but I came about it the hard way after filing bankruptcy 3 1/2 years ago.  I haven't used a credit card since then, and I don't miss it.  I save for the things I need and don't have bills I regret the next month.  Giving up credit cards has made my life much freer.

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