Re: In Search of the Perfect Credit Score

In article <KvmdnbnSS5BLNJPVnZ2dnUVZ_vSdnZ2d@xxxxxxxxxxxxx>,
Snowbound <loosebowels@xxxxxxxxxxxxx> wrote:

Put another way, how big of a cash cow are you. Giving money to
credit agencies is not my idea of building wealth, so I see a credit
score as a sucker rating.

I don't mean to sound pompous. While I agree it is foolish to build a
credit history for no other reason than to have a credit history, your
dismissive tone is otherwise unjustified as regards credit scoring. For
businesses, it is an excellent way to judge the risk of doing business
with an individual or even another company; for individuals, their
credit score can offer deep insight into what is wrong and right about
how they conduct their lives.

I don't disagree with what you have written. In fact, the credit
score works very well for those purposes. But I see this as
conventional thinking, and not considering the bigger picture.

I simply suggest that one not borrow, expect to purchase a
reasonable house that is within their means. Using consumer
debt at rates above 5% is a sure way to kill your chances of
building wealth, achieving critical mass, and getting out of
the paycheck to paycheck rut. Credit is like drugs. It
doesn't serve any good purpose, and all it does is make you
want more.

-john-

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John A. Weeks III           612-720-2854            john@xxxxxxxxxxxxx
Newave Communications                         http://www.johnweeks.com
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Relevant Pages

  • Re: In Search of the Perfect Credit Score
    ... money to credit agencies is not my idea of building wealth, ... so I see a credit score as a sucker rating. ... and getting out of the paycheck to paycheck rut. ...
    (misc.consumers)
  • Re: In Search of the Perfect Credit Score
    ... money to credit agencies is not my idea of building wealth, ... so I see a credit score as a sucker rating. ... and getting out of the paycheck to paycheck rut. ...
    (misc.consumers)
  • Re: In Search of the Perfect Credit Score
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    (misc.consumers)
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