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Research: Benefits of having no credit history - Credit-Land.com

There are a lot of things discussed about having credit history is great for an individual and how it opens up a plethora of new opportunities, rewards and rebate programs for the credit card customers. However, those who don`t have a good credit nor credit history need not be disheartened. There are some real benefits in having no credit history and will probably save you as much in the long run as the best credit cards will.

Unnecessary expenses are avoided

If you have no credit history, there is a great chance that you will not get a credit card, even if you apply for it. That means you are left out of some great promotional offers and discounts especially when there is holiday frenzy. The silver lining is that you would only buy what you need to buy, rather than spending money on every offer and being drawn to buy things you wouldn`t need to because of the discounts. By the end of the holiday season, your shopping would be without the savings that credit cards offer. But at the same time, you wouldn`t have purchased a single unnecessary item, ensuring that you have saved just as much as others. The good news is that you don`t have to pay the bills at the end of the month.

You don't have to be anxious about hidden fees

A lot of credit card customers go through a lot of moments of pain and stress. This could be when they see fraud transactions on their credit card monthly expenditure report, or a sudden notification about interest increasing on their cards. They don`t have to be upset on a weekend having realised that due to some credit card strategies and tricks, they will end up paying a hidden fees, which they were never really aware of. In short, they wouldn`t be worried about that lethal fine print regulation on your credit card, which the customer support executive knows about but you don`t.

Less chances of identity theft

Given the increasing cases of identity theft, not having a credit card or even loans due to no credit history proves to be a blessing in disguise. Your identity information is not lying unprotected in the database of any company and hence you are safe.

No extra money paid

If you have no credit history, you wouldn`t get a debt. It means you are paying for what you buy, but nothing extra in the form of late fees, interest, overdraft fees etc.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.