Welcome to My Site
If this is your first visit, welcome! This site is devoted to my life experiences as a Filipino-American who immigrated from the Philippines to the United States in 1960. I came to the US as a graduate student when I was 26 years old. I am now in my early-80's and thanks God for his blessings, I have four successful and professional children and six grandchildren here in the US. My wife and I had been enjoying the snow bird lifestyle between US and Philippines after my retirement from USFDA in 2002. Please do not forget to read the latest national and International News in this site . I have also posted some of my favorite Filipino and American dishes and recipes in this site. Some of the photos and videos in this site, I do not own. However, I have no intention on infringing on your copyrights. Cheers!
Monday, July 28, 2014
Living in the US without a Credit Card
Can you live in the US without a credit card? Yes you can, although you may not be able to travel via air or stay in hotels, but it is possible and perhaps inconvenient at times. According to a recent business report from 20 to 25 million residents
in the US have no credit cards. There are two types of non-credit cards holders, by choice and those who can not have a card due to poor credit, immigration status and other reasons.
My next door neighbor is a non-credit card holder by choice. She is a widow who lives in a debt-free house and pays everything in cash. She does not believe in credit cards because she wants to be debt free. Even her major purchases are paid in cash. She does not travel via airplane or stay in hotels, but drives to places within 3 to 4 hours and even pay for gas in cash. She has never used the computer or learned how to e-mail and has never heard of Facebook or Twitter. Unbelievable but true.
According to money.msn.com living without a credit card means you'll need to do a bit more financial planning than those who put everything on plastic. Every time you leave the house, you need to have an idea of how much you'll spend so you can make sure you have enough cash in your pocket.
If you have a debit card, there must a sufficient balance on your prepaid card or enough money in your bank account to cover your debit card purchases without incurring overdraft fees. This extra planning takes a bit more time and can be inconvenient. You may not be able to make purchases when it is most convenient
In my case, I only maintained one credit card and pay the balance every month so I do not have to pay the exorbitant interest that most credit cards charged to their customer. My credit card has a mileage reward or gift program redemption. For every dollar I charged I get one mile for air travel or a point for a gift redemption.
Today if you need to have a credit card comparecards.com has listed the following to be the best and most popular credit card this year. Please compare first before signing to save money.
1.Citi Simplicity® Visa Card
2 Citi® Diamond Preferred® Card
3. BankAmericard Cash Rewards™ Credit Card
4. Chase Slate®
5. Discover it®
6. Chase Freedom®
The important fact is to budget and pay your credit card balance in full every month if at all possible.