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Yes I know, they cannot profit off of it, thus they made sure not to count it.
The whole thing is a scam to enrich the banks that control the whole thing.
So you think you should build credit for paying your bills on time? Light bill? Water bill? You think because you dont stiff people that you signed up for services with that you should get credit for that? Well you do, they don't ping your credit for NOT paying your bill.
You can have and use a credit card without paying a dime of interest if you manage it properly. I use the hell out of mine, but I pay it off EVERY month and I've done that for over 10 years. Staying liquid and debt free is the best advice anyone could follow. CC's are great. When you consider the freebies from points, I can't think of a better deal and your rating will remain above 800.
Yea I know, liberals hate profits. That "corporate greed" thing.
I signed up for a credit card the day I turned 18. I've paid it off in full every month for 24 years. Never paid interest AND got thousands of dollars in free cash back. I've bought cell phones, computers, tools, etc all with free money I make just using my card.
Yea I know, liberals hate profits. That "corporate greed" thing.
Credit Cards are the legitimization of the Fiat Currency. Fiat currencies are negative money. Interest on debt is the gold to the owners providing it.
As PT Barnum said, there is a sucker born every minute. Not my problem. At some point, people have to take responsibility for their own actions. It isn't the government's job to fix the result of their poor choices. Another old saw--they made their beds, now they can sleep in them. Relieving those who make bad decisions of that responsibility just leads to more of the same.Yet people with cards do not do that,
It isn't the government's job to fix the result of their poor choices.
I didn't say anything about poor people. Poor people are often there due to situations beyond their control. But taking a CC and charging it to the max and only paying minimum payments is a poor choice and has nothing to do with a person's economic standing. It goes to responsible use of credit.But it is not always about poor choices unless you assume all poor people are that way due to their own choices
They don't know any more than what you allow them to know. If you don't want them to know it, don't use the credit system. Re: what the government knows. Google and FB know more about more people in the world than any bank and people flock to them to tell everybody about themselves.These people know more about us than even the government does,
You could go back to the "Lay-Away" system. No credit. Pay as you go. I don't have a problem with that. Credit just allows people to have immediate satisfaction instead of realizing what the real cost of an item is.It is one more of those things that I feel like if they did not already exist and someone said "I am going to start this system"
I didn't say anything about poor people. Poor people are often there due to situations beyond their control.
They don't know any more than what you allow them to know. If you don't want them to know it, don't use the credit system.
Google and FB know more about more people in the world than any bank and people flock to them to tell everybody about themselves.
You could go back to the "Lay-Away" system. No credit. Pay as you go. I don't have a problem with that. Credit just allows people to have immediate satisfaction instead of realizing what the real cost of an item is.
If you have no credit history, they have nothing. Utilities have policies in place for people who have bad or no credit histories.When you try to get insurance or utilities or even a job your credit history is ran.
Maybe yes, maybe no. I think they have more effect on your life than you credit them for.But what they know about me does not impact my life the way the credit system does.
If you have no credit history, they have nothing.
This isn't true in all states--WA has banned the use of credit history by insurance companies. However, I believe that the insurance companies should be able to use it--they should be able to use anything to determine if a potential client is an acceptable risk including determining if that person is responsible enough to pay their obligations--including student debt.you will pay more for insurance with no credit history
I have no problem with profits, but I do have a problem when they are increased based upon a system set up by the banks themselves that there is literally no way to get around.
If you never have a bit of credit you have a lower credit score than someone that runs a balance but has a high total limit. And credit scores are used for more than just credit, they impact the price you pay for of things like insurance, getting a cell phone, even getting utilities if you are a new customer.
Utility rates are not determined by credit scores. Stop making shit up.
Paranoid much?I agree. But it is not always about poor choices unless you assume all poor people are that way due to their own choices. But I guess that is for another thread.
I just have an issue with the whole credit rating system, and the companies that run it.
These people know more about us than even the government does, yet we basically know nothing about them and have even less recourse when they screw up than when the Govt does.
And credit impacts our lives even if we never take out a loan or a credit card in our whole lives. This is an immense amount of power for private companies to have over us.
It is one more of those things that I feel like if they did not already exist and someone said "I am going to start this system" people would be like "screw that", but we are stuck with it now
Wrong again, chihuahua breath!not rates, but how much, if any, of a deposit you have to put down when you get new service.
