Quote:
Originally Posted by Porsche-O-Phile
No the solution is to not depend so much on credit.
If you don't like the terms/conditions of the product, don't buy it.
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BTDT. It doesn't work.
I refused to get a credit card until my late 20's, for pretty much the reasons stated in this thread. However, simple things like renting a place to live were nigh impossible. I landed a great job, but then needed to do some emergency travel for the job (had to cover a commitment for my boss), and damn near lost that job because I didn't have a CC to handle up-front travel expenses - airlines and hotels don't like cash or checks. I eventually gave in and got a card, which was a more difficult task @ 28 than it would have been at 18. If an employer had tried to run a credit report, they probably would have passed me over due to the lack of a credit history; for all I know, some did.
Apart from that, there's not much you can do about the data mining and gaming that goes on behind the scenes. And and all attempts at regulation have been neutered by financial industry lobbying.