Now to a lot of people they'll disagree with me because they think credit is great and made their life amazing but that's only because they have a credit score of 600 or higher. Now for us college students or people in debt and even those that never did anything to gain credit...we are screwed for any loans or wanting to finance for nice things like cars or furniture. Let me tell you why I think credit is useless and ruins lives.
1. Banks or loan companies think and make you feel like your $1,000 a month or more paycheck is worthless and don't go by your paycheck biweekly amount they go by your credit which in the long run is useless because it can go up or drop down over anything. With your paycheck you can guarantee monthly loan payments while your credit score just makes you allowed to pay with your paycheck...so why the long detour for denial of a loan when a bank already knows you can afford it?
2. Credit scores are never exact which means you could have amazing 600 credit score for 6 months and then BAM shoots down to 400 or lower if for some reason a loan isn't paid on time or you're in college debt etc.
3. It's just a number proving you pay bills on time for years and years and barely make any difference to that number unless you take out a credit card which you can't get unless you have credit in the first place so again whats the point of this triple digit number the world keeps throwing in our face for everything?!
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