Credit Cards

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A community for discussing any aspect of credit cards. It is important to pay them in full and on time. Please ask questions and contribute to the knowledge surrounding credit cards

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Do you actually need credit to buy things? (self.creditcards)

submitted 4 months ago by DaddysLittleSlut to c/creditcards

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Hey, I was wondering if someone needs credit to buy things. People in my family have said I wouldn't be able to buy a car or a house without credit. But if I'm saving up cash to pay for things outright, do I really need credit?

Note: I’m sorry if this is the wrong place to ask.

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[–] jordanlund 3 points 4 months ago (1 children)

Depends on what you're buying.

A $5,000 used car? Sure, you can save up for that.

A $40,000 new car? Good luck!

A $400,000 house? No chance without credit.

[–] DaddysLittleSlut 1 points 4 months ago

For me I planned to live off nearly 2.5 and put back about 1k to 2k every month on a 3% interest for 30 years.