Old Ben had the right idea. I come from a family that didn’t believe in borrowing. My Dad allowed Mom to have a few department store charges (in those days only the husband could open a charge account) only when Mom solemnly promised to pay the bills the day they arrived (and she did).
I’ve allowed myself some credit, but when I could no longer work, I ditched almost all of my credit cards and I don’t borrow for anything.
Sounds great but there is a problem with that strategy, if you never borrow you will never establish a "credit history". If you really need money (health emergency, car falling apart, fire damage to the kitchen, &c, &c) you'll find it hard to find lenders who will trust you to pay it back on time.
A better strategy is to limit yourself to one or two credit cards. Use them regularly for everyday things (gas for the car, groceries, things that you need and can afford). When the statement arrives, pay the entire balance before the 'due date' and you will not have to pay any interest.
If you are able, double up on your mortgage payments, the first payment includes interest, the second all goes toward reducing the principle. (cuts a 30 year mortgage to way less than 15 years)
If you follow through with this strategy you will establish a credit history with a "triple score" in the 800 range and you will have preferential treatment from financial people (bankers, loan officers, &c) who will now look at you as a favored customer.
Regards,
GtG
PS I have followed this plan since I was 18 and now I can borrow at 1% under prime rate if I want to buy a new car.