The Craziness of Credit Score Report
I used to play a lot of Shadowrun when I was a kid. Shadowrun was a computer game set in a world where mega-corporations rule the cities and law are provided by them. Money was the essence of life in that story, and the Mega-corporations provide them.
Dreaming of Shadowrun is ok as a fantasy game, but living it for real is entirely a different matter. If that dark world where money was the sole object for living was to become real, the first fledgling signs may be the credit score report. No other such contrivance could be as cold, as heartless as a credit score report.
Millions of Americans have relentlessly toiled, sacrificing simple pleasures for the sake of higher credit rating. Because low credit score report means disaster. True enough, virtually every business sector had taken up the credit score report craze to substantiate a customer’s worthiness. That would include apartments, hotels, insurance, and utility services. Not to mention that employers now evaluate an applicant’s credit score report to check if someone’s fit for hiring.
Credit score reports could be a lesser burden if those scores were not that easy to go under. But they are really fickle, and a good number of reasons that can raise credit scores are clearly for the benefit of the bankers. One such example is the need to get a number of credit cards, not just one but several, just to raise your score. For most people, 1 or 2 cards would suffice 3 or more is being extravagant if not cost-effective. And what’s the business of getting a poor credit score report if you dislike using too much credit. I myself always prefer paying cash, so I seldom go for credit cards. And I do save, so that lessens my liability to use credit card. But that doesn’t spell wise spending to the banks. They see it as credit risk therefore I’m awarded a low credit score report.
So the piggy-bank method of saving our grandmothers often teach us is lost in this generation of credit cards. All savings must be spent in order to optimize the use of credit cards. Only then will you see a shining credit score report when you see your 4 credit accounts having transactions in them.
“I advise you not to close these accounts sir, for closing it will affect your credit score report.”
I couldn’t believe when I heard that. Closing old accounts is wise credit management and I’m not to be dissuaded by mere credit score reasons. Those of you that have multiple accounts should consolidate all your debts into one account. Don’t mind the credit score report, having a lesser interest rate is far more beneficial in the long run than having multiple credit balances with each one having its own interest rate. Low credit score report? Who cares? Me, I’ll just continue living my life without credit report score uncertainties. If the next credit shark rejects my loan proposal for having a low credit score report, no problem. I’ll set my sights on Home Equity then.
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I used to play a lot of Shadowrun when I was a kid. Shadowrun was a computer game set in a world where mega-corporations rule the cities and law are provided by them. Money was the essence of life in that story, and the Mega-corporations provide them. Dreaming of Shadowrun is ok as a fantasy game, but living it for real is entirely a different matter. If that dark world where money was the sole ob…
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