why are credit ratings geared toward people?
who may payments on things every month and not towards people like me who would very much rather save up and buy something outright? like what im saying is why do people who f*ck up payments have a higher credit score than someone who saves up and buys everything outright?
i dont like the idea that something could happen and something is taken away from me because i missed a payment or something along those lines.
i have zero credit cards and refuse to get any.
who make payments*
Well, if you choose to never get a credit card or apply for any type of loan, that's a personal choice. But you cannot be angry that a credit score is geared towards those who have taken out a loan or a credit card. The majority of people DO pay their bills on time, or in a responsible manner. The reason someone who messes up has a higher credit score (albeit crappy and couldn't finance a toothbrush..LOL) is because they *exist* in the credit world. You, on the other hand are a nameless, faceless entity. You don't exist in the credit report or score world because of your refusal to get credit. You have no track record of how you pay bills as far as loans or installments etc.
I don't blame you for paying outright for things, but there will probably come a time in your life when you are going to be asking for a mortgage or some type of loan.
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Credit scores are geared toward how people handle credit. If you do not have credit cards or take out any loans, there is nothing to rate. It's not that you have bad credit, you have no credit history.
If you don't play golf, you don't have a handicap. If you don't bowl, you don't have an average.
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I rather not charge things too but I do because I get rewards. Showing you can make payments on a car or house or have credit cards without going nuts with them shows a lender that you are stable.
To a credit rating company you don't look any better than a bum living with his parents driving their car. The don't see that you are living below your means and paying regular bills like rent and utilities since they aren't on a credit report.
If you were going to loan someone money and you had loaned them money before and been paid as agreed wouldn't you feel more assured of getting repaid? Loan someone who never borrowed before money and you don't know if they will pay it back.
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Well, if you choose to never get a credit card or apply for any type of loan, that's a personal choice. But you cannot be angry that a credit score is geared towards those who have taken out a loan or a credit card. The majority of people DO pay their bills on time, or in a responsible manner. The reason someone who messes up has a higher credit score (albeit crappy and couldn't finance a toothbrush..LOL) is because they *exist* in the credit world. You, on the other hand are a nameless, faceless entity. You don't exist in the credit report or score world because of your refusal to get credit. You have no track record of how you pay bills as far as loans or installments etc.
I don't blame you for paying outright for things, but there will probably come a time in your life when you are going to be asking for a mortgage or some type of loan.
References :
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