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Realizing in my twenties that not having a credit card was hurting my credit score, that really summed up to me how loathsome and manipulative the entire system
by spaceribs 8y ago
Realizing in my twenties that not having a credit card was hurting my credit score, that really summed up to me how loathsome and manipulative the entire system is.
For those who defend the credit history system, where was the consideration that I was mature enough to limit my spending and save for future expenditures rather than use a credit card? Where was the consideration to avoiding unnecessary risk entirely and still paying my bills?
- tboyd47 8y agoBankers' attitudes about it make it even more infuriating. Whenever I'm at the bank I get asked, "Have you considered taking a credit card to start building your credit?" When I patiently explain why I can't do that, their response is usually to just reiterate how important it is and how irresponsible I'm being. I've never seen a salesperson in any other industry do this. When I ask waiters for non-pork substitutes, they don't come back with, "Listen, I know you don't eat pork but you should get the bacon anyway because it's really good." One time the lady asked me, how they are supposed to make money from zero-interest loans? How should I know? You're the finance expert. I didn't come in here looking for a loan. You asked me!
- spaceribs 8y agoWhat I want to see out of this or future generations is a culture of never-debts, who responsibly save, invest, and not tie their entire lives to credit ratings, shiny garbage, and what wall street wants. The biggest con job on the American middle class was the 401k though, how else could people be so fashioned against their own interests than to emotionally tie their future so intimately with how the stock market is doing. I'm not holding my breath on things changing though...
- scarejunba 8y agoDebt is valuable, man. It fuels growth. Frequently the guy who can do things isn't the guy with money. Debt is one means of the doer guy acquiring the money to do.
- spaceribs 8y agoDebt isn't valuable, investment is.