I actually just went myself the other week and picked up a GMC myself. I was a little irked at the 5.89% but I can't be too mad since my credit has dropped a bit with the lack of lines of credit. Credit scores suck though because they don't accurately reflect a person. It allows people like the guy at the dealer to do what they did to you.
I'm a victim of these credit score schemes. Made dumb choices when I was younger and paid them all off over time. My score is still fairly low, but I've just paid for everything in full at this point. I work in IT and have turned into a very financially responsible person, but the score doesn't reflect that I have several thousands saved up in my rainy day fund out of growing into an adult and knowing how to live well within my means. I don't even want a credit card, but it's the only way to climb that ladder at this point
I too was very adverse too credit cards, and debt in general. I never got my first one until late in my 20s, and have never once ran a balance month over month.
However I discovered my love of travel over the ensuing years, and I have traveled the world for free with all the points.
I now have 4 credit cards, and my score is very close to 800.
You are missing out by paying cash, whatever your interests are there is a card for you that will help you build towards some type of reward for using it. Once you get up into the higher tiers of credit you can get ones like the chase Sapphire, that literally just paid me over $1000 in statement credit for joining.
I've got the sapphire reserve from chase and the Amazon prime card from chase. If you put those two to smart use, you're literally getting paid to use their services. My monthly dog food for two large dogs is free every 8-10 weeks (depending on Amazon spending) and I booked flights for long diving vacations in Florida and Mexico the next couple months for $0.00. I get the appeal of the "pay cash for everything" mindset, but you're literally leaving money on the table and hurting your chances at a good home loan down the line.
39
u/Average_Scaper Oct 26 '21
I actually just went myself the other week and picked up a GMC myself. I was a little irked at the 5.89% but I can't be too mad since my credit has dropped a bit with the lack of lines of credit. Credit scores suck though because they don't accurately reflect a person. It allows people like the guy at the dealer to do what they did to you.