No. Some people think that you need to have a credit card and carry a balance from month to month to maintain a good score. Not so.
With credit utilization, a lower credit card balance is always better for your score. Thus, paying off balances in full every month means you maintain a low utilization ratio. It’s the best thing you can do for your score.
What’s more, you can have a good credit score even if you have no credit cards. If you choose to stay away from these high-interest rate debts, you can still use installment loans and other revolving credit lines successfully. If you do, then you can have a high score even if you don’t have a single credit card.