Why cant a person with a debit card in the US get a credit history? is it compulsory to have a credit card?

I actually have not used a credit card before - I use checks and debit cards to pay my bills. I prefer to pay as soon as I make a purchase, but some merchants eg auto dealers want a credit history.|||you answered your own question. Using a debit card uses your own money from your own account. When someone checks your credit history they want to make sure you are a good payer. so paying with a debit card does not prove anything and will not show up on any credit search|||ask your bank about services they provide to build your credit up. My bank has this one services where it puts 500$ in your account so you will never overdraft and if we keep the money in there it bulids our credit!|||No it is not Compulsory to have a ceditslave card.


suggest u visit daveramsey.com to understand what bankers mortgage co's pray u never ever learn or worse - apply in your life . how to own, not be owned, by your money.


note u can buy solid reliable in good shape cars for cash - u just have to save for it.|||You can't get a credit history with a debit card because you aren't borrowing money with a debit card. You are using money that you already have available in your checking account. To get a credit history, you need so show that if you borrow money, you will pay it back.|||Because a debit card is just that, a debit card, if you don't have the cash to back you don't get it. There is no credit involved. If you have utilities you have a credit history so having a credit card is not compulsory but it will help immensely. The more credit you have available to you, that is not being utilized and the longer you've had those accounts, the better you credit report will look.|||what you have established is not normal credit but substitute credit. it can be equally as good but not accepted as much. since you show a history of bringing money in and if you can show proof (bank statements) you should be able to be financed through you bank, that is your best bet. check with your bank to see if they offer a credit/debit card. it works the same as your debit but it also build your normal credit.|||America does not force you to go into debt to buy a house, car, etc.





The reason for needing good credit to make larger purchases is because the population has grown so much and people move around a lot more. Its not like it was decades ago where you could go down to the local bank and get a mortgage based on how well the loan officer new you or of your reputation. No one knows anyone anymore.





The purpose of credit is to show that you have the financial discipline to show that you can borrow money or be extended a line of credit, and you will make payments on time and not default on a loan. It is the banks way of knowing whether you are trustworthy or not.





The best way to make this work for you is to get a credit card or two, use them and pay them off monthly. You'll build a good credit standing over time and banks will love to lend you money.





The alternative is to get someone with a good credit standing to co-sign your loan.|||Because America is a greedy corporate country intent on forcing you to have credit just so you can go into debt trying to buy a house, car, etc..