I just like the idea of being debt free. No student loans, no car payment, no mortgage, etc. I have tried to get a 'starter card' in the past to use for groceries that I could pay off, but even the "anyone can get one of these cards" have declined me, and I assume it's do to lack of credit score. Unsure why it's non-existent as I've had several utilities in my name over the years that have been paid for. Figured if it was bad, it'd show a bad score. But when checking, it's as if I've never had anything in my name. Not really complaining though.
Your issue is / was simply lack of credit history.
So many folks in their trendy fashion make credit out to be something everyone does. This is not best indication of the situation and bias, but it's something:
A Gallup survey conducted in April 2014 found that the average number of credit cards Americans say they carry is at an all-time low. According to the Gallup survey, the average number of cards owned by all Americans -- including those with no credit cards -- is 2.6. Among Americans with credit cards, the average number of cards owned is 3.7. The percentage of Americans who have no credit cards rose to 29 percent in 2014, up from 22 percent in 2008.2
They have 29% of US population (assumed to be 29% of the adult population) not using credit cards in 2014.
Latest Census data puts US population at:
316,128,839
Of that population those < 18 years of age and likely not credit worthy or bearing credit total:
19,868,088 (under 5 in age)
20,570,581 (5-9 in age)
20,650,454 (10-14 in age)
========================
61,089,123 people too young to have credit.
This does not include the 15-19 age group which adds:
21,158,964 ... MORE.. Obviously 18-19 year olds are doing the credit thing.
If we take the minor age population and compare to rest we have:
61,089,123 vs. 316,128,839
= 19.34% of the population not able to have credit and on top of that throw some big chunk of 21.158 million who are age fringe group. Should push us up percentage wise. Right there excluding 1 out of 5 people in US population at the door due to age
Now we have the remaining value:
316,128,839 total population - 61,089,123 (underage minors) = 255,039,716 adult population with note about the 15-19 year olds not being factored in
255,039,719 people which we'll flat out eliminate 15-19 group from
-
21,158,964
===========
233,880,755 left as adults
We then want to say 29% of this audience (which is skewed since we just eliminated 18-19 year old, but that age group is laggards and not real friendly and endorsing of credit).
So 29% of 233,880,755 = 67,825,424 more people not in the credit racket.
We add up the folks not in the credit racket:
67,825,424 (29% opting out)
+ 61,089,123 (people too young to have credit)
===============
128,914,547 folks in the United States not dealing with credit.
Total US Population: 316,128,839
Those non credit: 128,914,547
=====
40.81% of the US population or 2+ out of 5 in the population who are not dealing in credit.
If we look at adult estimates:
233,880,755 adults with non credit rate of 29% = 67,825,424 adults in US without such.
Fact is, actual number of folks opting out of credit due to bank bailouts, stagnant wages, lack of fun money, most of a decade of economic hell in the US, etc. is likely higher than 29%.
I know more and more people who leverage cards these days, that is use card for advantages and promptly pay full racked up amount in Net 30 tops. They don't need the cards, just helps with paper tracking and general cash flow/security. These folks are erroneously counted in the heap of card holders although the industry really has problem making money from them and often shows them the door.
So as you see, the bailouts of credit institutions and fashionable aspect of banking again is credible chunk of US population but very big, many many 10's of millions of folks who have nothing to do with such, some by choice/strategy, some by poverty, some by common sense, others due to age.
