Originally Posted by Gojubrian
and paying cash is the best way to go anyhow!!
True enough Go, all the same few can pay cash to buy a home or a new car. I believe that in most cases if you can't pay for it now then you don't need it. With that said I know that I wouldn't own a home or had my own business with out first extablishing good credit and second making all the payments on time for the credit given. When I closed my business I made certian that all my creditors were paid in full as I expect at some point I may need that credit again. I have two adult kids, they started out with credit cards with modest limits and used them to buy gas, then paid the balance off every month. Both now have auto loans with a reasonable interest rates, one has purchased a home and the other has prequalified for a home loan. Neither use credit with out fully understanding the need vrs want issue. You can rent a home, drive an older car and do this all within the cash you have. In almost every case if you want to own a home or drive a newer car you need credit.