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Yes, it is absolutely possible to have a very good or excellent credit score with only one type of credit, such as credit cards. Payment history and credit utilization are far more significant factors.
Conspicuous consumption is the public acquisition and display of luxury goods or services primarily to signal wealth, status, or social standing, rather than to meet essential needs.
A negative net worth, where debts exceed assets, is common for those with significant student loans or who are early in their careers. It is the primary indicator of being overextended. The goal is not to panic but to create a strategic plan to systematically reduce liabilities and build assets.
A secured card requires a refundable cash deposit that typically serves as your credit limit. It is designed for those building or rebuilding credit. It reports to credit bureaus like a regular card but helps limit risk because the deposit secures the issuer's funds.
Existing debt itself is not an emergency to be paid from this fund. The fund is strictly for new, unexpected events. Using it to pay down old debt would leave you vulnerable to the next crisis, forcing you back into debt.