Gs4 Security: Credit Score

Monday, 17 December 2012

Credit Score

To me, the lending industry perpetuates the myth of the credit score in a way that is similar to how your friendly local drug dealer peddles his products.The lenders make it easy for you to get your first taste of credit.From the time that you turn 18 years-old,they start bombarding you with direct mail,offering you the chance to get your first credit card.Often times, they’ll partner with colleges and universities to “sell” those cards.“Build your credit and help your school at the same time,”a promise that offers–not only – the opportunity to buy things you can’t afford, but the illusion of freedom at the same time. What 18 year-old doesn’t crave freedom?Once the lenders worm you into their system, they really have you hooked.The credit score simply is another way for them to keep you buying their product. First, they tell you about all the wonders of what credit can do for you.“Want a brand new car that you can’t afford? Don’t worry,just use a little credit.Want a new pair of Louis Vuittons but you’re a little strapped for cash? Go ahead! You can afford it!Just charge it!Come on, you can do it.It feels soooooo good!”