They say you never miss a good thing until it's gone. Anyone who's ever dealt with bad credit can attest to the ease that credit provides. Creditors might charge outrageous fees and skyrocket your interest rate without warning, but without credit, there's a lot you either can't do at all or have to pay more to do.
With credit it's easier to...
- Rent/buy a home
- Buy a car
- Get a job
- Start your own business
You don't have to verbalize your appreciation for credit as you celebrate Thankgiving this year. Just remember that credit isn't as bad as it sometimes seems.
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The one thing that good credit can certainly assist you in doing, as it does for many consumers, is get you into unbearable and perpetual debt.
For most people, the only way to pay down these accounts is if they had a windfall income, like winning the lottery. This is humorous for many people to hear, but once reality is understood, it should be frightening. Good credit did nothing for you but enable creditors to steal your net worth and cripple your ability to invest in your future. Good credit supports you in betting against yourself and transferring your wealth and potential wealth to creditors.