that is true in our experience, I learned from my insurance company that they report record of on time payments to the credit bureaus and that is also one reason we get discount rates aside from the fact that we have good driving records. I started building my credit history by getting a secured card with my bank with a max credit that is equal to amount on my checking/savings acct. Then I just kept paying my balance in full each month. Then when I got the offer from companies that gave higher cashback, that's when I shifted using that card to maximize my savings. This has helped me build a credit history w/o owing anything.You don't have to be in DEBT to have a credit history. One credit card with one of your regular purchases made each month, paid in full right away will score you some credit history.
I don't know, I don't think the credit history thing is a big deal. You can play the game without losing anything.
I agree! I do have a major credit card, though, that I pay off in full monthly. I don't like having to deal with them, it seems that the time period to pay keeps getting shorter and no grace period anymore. I think credit card companies deliberately try to mess you up that way. Many peoples' lives have been ruined by this.I agree with most of what's been said. I too can see the lender's point of view about a history, but on the other hand, those who have no debt, assuming they've been out of school and functioning in the "normal" world for a while, clearly are able to manage money responsibly.