I’m going to start college soon, and I’m being told by many people that I should get a credit card and "establish my credit" by making payments on things on time. People have tried to scare me by telling me that if I don’t buy a new car or a credit card via a store in the mall, I won’t be able to purchase a house in the future, because I "won’t have established good credit" and "won’t be able to get a loan". My initial reaction is that they’re lying to me in order to sell me credit cards, but is there something to their arguments? Is it possible to get home loans without a history of good, or any credit? What’s the best option in a case like this?
Why would I need a credit card if I don’t plan on having credit in the future? I don’t need credit, and I feel we’ve been brainwashed into thinking it’s necessary.
Are there home loans that are given based on proof of income or something other than credit history?
It really seems as though people assume credit has to be a part of their lives; I’m not sure that’s true.
I am unhappy with my current bank that my loan is through, and would like to refinance through another company. However, I am a stay at home mom. Can I use my husbands paystub as proof of income? he is not a co- owner of my vehicle.
