Reasons Why I Don’t Have A Credit Card

Not having a credit card is not an issue for me. Aside from the incident that happened to me years ago, which will be written in due time, I have 11 reasons why I don’t have one.

1. Cash is King

There are more freebies when you buy things in cash. I get 10% discount on some items if I use cash instead of card. Just talk to the customer relations officer and I’m sure he’ll be giving you favorable discounts.

2. For Security Reasons

Identity theft is rampant in credit cards - unlike in debit cards. Just look at what happened to me.

3. I don’t want to complicate things

I go to the store where I want to buy some clothes and some shoes. I pick up some items, proceed to the counter, get some cash in my wallet and leave the store. I don’t have to compute how much I charged myself moreover I don’t have to wait for my billing statement before paying.

4. It’s easier to budget with cash

I think this is plain english. No need to expound.

5. Spend less

I can track everything with cash. And I can easily down size if necessary.

6. Maintain my investment amount

The effect of spending less is maintaining my investment amount. I am happier with this set up.

7. I am not a fan of credit card perks

I often see people go after the credit card perks like free food, free travel etc. If I may compute, I can have those freebies at a cheaper price without charging my card over my intended limit.

8. I can still book for travels

Most of my travel were booked via credit cards of office mates. They get to have the points while I get to have my tickets. Fair enough for me.

9. No debt = No hassle

10. Donations are easily done with cash

Although donations via credit is now acceptable, I still want my donations in cash. Less hassle to the organizations I support. Less processing more time on other things.

11. I don’t treat credit card as an emergency fund

People mistakenly treat credit card as their emergency fund. Well I don’t. I have a healthy sum of money in my bank account labeled as “For Emergency Use Only!”

There you go. I hope you picked up some really good tips.

~Till next time.