Comments on: Is it Possible to Live a Life with No Credit? http://www.americanconsumernews.com/2008/10/is-it-possible-to-live-a-life-with-no-credit.html Helping Smart Shoppers Save Fri, 19 Mar 2010 23:19:07 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Nick http://www.americanconsumernews.com/2008/10/is-it-possible-to-live-a-life-with-no-credit.html/comment-page-1#comment-4760 Nick Fri, 17 Oct 2008 21:29:43 +0000 http://www.americanconsumernews.com/?p=1678#comment-4760 It's tough to do a lot of things without credit, get an apartment, new car, etc. This is especially true after something like bankruptcy. Nowadays though, even those that have claimed bankruptcy are viable options to creditors. One reason for this, is that they cannot claim bankruptcy again, so the risk of lending is lowered. I know if you are one of these people, the last thing you may want to do is get yourself another credit card, but if you can keep it under control. it's actually not a bad option to build credit. It’s tough to do a lot of things without credit, get an apartment, new car, etc. This is especially true after something like bankruptcy. Nowadays though, even those that have claimed bankruptcy are viable options to creditors. One reason for this, is that they cannot claim bankruptcy again, so the risk of lending is lowered. I know if you are one of these people, the last thing you may want to do is get yourself another credit card, but if you can keep it under control. it’s actually not a bad option to build credit.

]]> By: Neil http://www.americanconsumernews.com/2008/10/is-it-possible-to-live-a-life-with-no-credit.html/comment-page-1#comment-4747 Neil Fri, 17 Oct 2008 12:48:35 +0000 http://www.americanconsumernews.com/?p=1678#comment-4747 Hi Thanks for the interesting article. I agree with everyting you say, even if I often find it difficult to put it into practice. I cam across some advice in the past that was: "The only way to become rich is to spend less than you earn and invest the difference" Looking at this the other way you can see that spending more than you earn and borrowing the difference is a way to become poor! The only thing that challenges this in any way is buying a home, where your advice about putting down the maximum deposit that you can is spot on. Neil Hi

Thanks for the interesting article. I agree with everyting you say, even if I often find it difficult to put it into practice. I cam across some advice in the past that was:

“The only way to become rich is to spend less than you earn and invest the difference”

Looking at this the other way you can see that spending more than you earn and borrowing the difference is a way to become poor! The only thing that challenges this in any way is buying a home, where your advice about putting down the maximum deposit that you can is spot on.

Neil

]]>