I'm 23 and I don't have a credit card, is that a bad thing?

Other answer:

Brent G:
I wouldn't say it's "bad" per se because there are plenty of people that have gotten into trouble from credit cards, but I wouldn't say it's good either.
Everybody needs to have an established credit history because at some point you will want to apply for a home loan/apartment lease or car loan, and having an established credit history makes that process much easier and affordable. Just by making a few purchases every month and then paying the bill back in full (meaning you pay zero interest) can make such a difference over a few years time frame.

Plus there's a lot of great rewards programs on credit cards these days, and you're missing out by not taking advantage of those. I have at this moment over 100k airline miles and over $500 in cash rewards on my two primary credit cards; and I got those by making only the purchases I'd normally be making on a given month anyways, while still paying the card off in full every month so I'm not accruing any interest. That's free money/perks for me for doing what I'd normally be doing anyways.

I personally think it's a part of becoming an adult, but you have to trust that you'll use them responsibly because it defeats the purpose otherwise.

AlCapone:
There are times in just about everyone's life when they need credit — car loan, home mortgage, emergency cash, etc. and the easiest way to build credit is with a credit card or two. Use them often, pay off the bill each month, NEVER miss a payment, or be late with a payment, and your credit score will gradually increase over time — for when you need it.

Some people pride themselves in not having credit cards and always buying with cash. That's a very narrow-minded financial philosophy that will eventually cause the them problems. The worst time to start building credit is at the time you realize you need it.

Without credit cards you can't easily rent cars, reserve hotel rooms, buy online, or pay for airline tickets.

Julia:
It's not as if people are going to scold you over not having a credit card, so I don't see it as a bad thing?? As long as you have moneyyy
randy394:
Yes and no. It depends on your goals. If you ever intend to obtain competitive interest rates for… say, a house, then having an establish credit history will be quite beneficial. Just having a credit card doesn't give you history, however, you have to use it and pay it responsibly.
Maris:
Hello everyone i'm Maris Rooney i just want to testified on how i got a loan from a God fearing woman called Mrs Elizabeth pls do not fall in the hand of scan contact Mrs Elizabeth and get your Loan Via mail{elizabethperryloancompany@gmail.com…
chrisjbsc:
No. My daughter is 29, earning £40,000+ a year, and doesn't have a credit card.
tro:
not really
but consider this, my son who normally pays and did pay cash for anything he got went to Hawaii one year and could not rent a car there because he did not have a credit card, a big reason if you need to rent a car
Willie:
You don't need one, so don't even apply for one.
Bernard:
Nope, not bad at all – having credit cards just promotes debt.
Ally:
No, my sister is 27 earning about 98,000 dollars a year
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