I haven’t put out an update on this in a few years. Yes, Courtney and I are now officially entering year 5 without having a credit card.
And it feels wonderful.
We still are largely a cash only family, but we do use the debit card on occasion for things that just are too big of a pain to buy with cash (gas, online stuff, recurring bills, etc.).
If you are still debating whether to make the jump to the no credit card lifestyle, just remember: Adding debt to a crisis is NOT solving the crisis.
This still stands as one of the hardest decisions we’ve ever made (stressful might be a better word) if only because so many people predicted doom and gloom. And yes, we did ditch our cards right at the start of the Great Recession. While correlation does not necessarily mean causation, I find it very interesting that the time frame of the Great Recession is also the time frame of the greatest financial growth for us. Surely much of that comes from the general changes we made, but I do give at least some credit to the behavior changes not having credit cards force on you (and don’t call me Shirley).
If you can’t do it yet, work toward it. It has been so utterly freeing.