In a recent Fribble, I wrote about giving up credit cards. As a way of poking fun at credit cards, I made it sound like I was quitting smoking. I was surprised at the responses I received. Normally, when I write a Fribble, I get a few responses. Sometimes people agree with me; sometimes they don't. If there are a lot of letters, I usually get a "flame" mixed in, too.
My earlier Fribble on credit cards generated more heat than usual. Was I closer to the mark on credit cards being a compulsion than I realized? I wonder.
Anyway, let me write a little bit about being credit cardless. What's it like in a modern society without a credit card? Well, I'm cheating; I carry around my debit card. Now, one of the flaming letters I got said I'd run my account down to zero with my debit card, and run right home and get my credit card to make purchases. I disagree; if I discovered at a store my account had a zero balance, I would run right home, but not to get the credit card! I'd have to run home to start transferring money before any checks started to clear.
How do I prevent running my account down to zero? I'm using the electronic banking feature in Quicken, and keeping the receipts. I check my account every couple of days, and I'm pretty well up on what the balance is. I also make sure I leave a cushion in the account. The system works pretty well. I have used the card for gasoline, purchases big and small, and even groceries. No hassles as of yet, and all the purchases are going into Quicken where I can track and analyze them if I really get bored and am looking for something to do. It really is just a plastic check and you're no more likely to break your bank with it than you are of writing a hot check.
Another of the less angry letters asked what I would do in an emergency. For example, what if my car broke down as I'm driving home from work? I would probably call AAA. I've done that before, and you don't need a credit card for that. What about if I was traveling and needed emergency service? Yes, for that reason and others, it's probably a good idea to carry a credit card when traveling.
One flamer suggested I didn't want people to use Foolmart, since I wanted everybody to give up their credit cards. I don't really want anybody to give up anything. There are plenty of people out there who are trying to get us to give up everything already. They are doing a fine job of trying to convince me that whatever I am doing somehow damages me, my children, or harms the whales. So, feel free to buy from Foolmart with your credit card; I won't try to stop you. I don't think the whales will mind either. I'll use my debit card to do the same.
What about disputed purchases? A credit card gives you a definite advantage over purchases for which you are being unfairly charged. I once bought a hard drive at a computer show, and it wasn't the right one. I called the merchant, and they told me to send it back. I did, by registered mail. They refused to give me a credit, so I wrote the appropriate consumer agencies, and contacted my credit card company. The charge was removed. That has been the only time in the nineteen years I've had a credit card that I did that. I just buy from reputable merchants now.
In summary, being credit cardless hasn't been hard at all. I'm not carrying any more cash than I did before, my finances are fine, and I'm not making impulse purchases anymore. I don't advocate this for everybody, so don't worry about justifying it to me. However, if you are considering such a drastic step in your life, take it from me, it works just fine.