Quote:
Originally Posted by onewhippedpuppy
Bingo, the entire thing is a scam conceived by the credit industry to incentivize bad behavior. The ultimate scenario would be to have a zero credit score because you pay cash for everything. The fact that your credit score can’t be explained definitively pretty much says it all. Math shouldn’t be ambiguous.
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When my MIL decided she wanted to travel to Ireland with a group of ladies from church she was told she needed a credit card to use on the trip. She went to he bank where she had banked for decades and asked for a credit card, as she had never had one. The new girl at the bank tried to pull up a credit report, and there was nothing, and she said sorry we can't issue you a card. They owned the house, and paid cash for cars, never any debt. The girl at the bank went to see the manager when my MIL mentioned him by name, he was a former student of my MIL from 1st grade and he known her all his life. He knew she had a comfortable saving account and several CDs with that bank. He made an override in the system to issue her a credit card. It is paid automatically, and she has never in her life paid any interest.