It's worse than that. The fact that credit is so easy means more people get themselves into debt. This means other services providers and lenders over rely on c

It's worse than that. The fact that credit is so easy means more people get themselves into debt. This means other services providers and lenders over rely on credit scores to determine whether they should accept new customers. It's cyclical. I hear my friends talk about applying for multiple cards at the same time; cycling between cards so that a minimum spend is maintained and keeping and paying for cards that they don't need all so they can maintain a credit score. This is all guess work anyway, because no one really knows what contributes to this secret score. The credit card companies must love the lack of transparency because instead of having to compete with each other and with other forms of payment we are now in a world where everyone believes they need to use multiple cards from multiple vendors. They use these cards even when they don't need or want to because of how much they fear their credit score dropping.