Emily Maddox, 24, of Knoxville, Tenn., is the kind of customer credit card companies covet. She has a good job as an Internet marketing coordinator, and she lives within her means. But she’s never had a credit card, and she has no plans to apply for one.
Credit cards, she says, “make me really nervous, and I’ve never felt comfortable having one.”
In a country where the average consumer owns five credit cards, Maddox may seem somewhat quaint, like an Amish farmer who drives a horse-drawn buggy. But proponents of a no-credit-card lifestyle say there’s nothing old-fashioned about their choices. And they’re convinced that their numbers will grow as consumers become increasingly disenchanted with credit card industry practices.
Credit card usage is slowing. Revolving credit