Quote:
Originally Posted by aklim
Borrowing isn't an issue. STUPID borrowing is a problem. I sometimes use a credit card to buy a large item, pay most of it off and leave a small balance and make a few monthly payments to keep my credit going.
Having all those is one thing. Today, you have it all. Tomorrow, you are broke. So, having no credit rating would work as long as you can be sure that you will do all those things. Since nobody can be sure, I suspect it is better to spend a few bucks every year to maintain it.
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Anytime you (generically again) owe anyone/entity money, it increases your risk financially.
It is hard to measure risk, but when you owe, it is always right behind you - ready to pounce if you get in arears.
Debt is bad, versus having all your stuff paid for. That's where we should all want to be (debt free) someday, including me.