Yes you can, but it’s not recommended because it’s more beneficial to use credit to your advantage. You can use credit cards wisely and responsibly to build credit history, add to your credit mix and improve your credit score to increase your chances of loan approval, save money on interest rates and more.
Trying to live your life completely credit-free is possible, but it can cause you difficulties in the long run.
Even if you don’t plan to apply for a loan anytime soon, having a good credit score can still make life easier. Here are 5 reasons to have a good credit score.
Check your latest MyCTOS Score report today to stay on top of your credit health, increase your chances of loan approval and fix any credit issues early, such as a low credit score or missed payments.
It’s possible to build credit, even if you’re starting from scratch. Learn how here.