I was reading a yahoo article about credit scores, someone posted this question: "why credit scores should have an impact on insurance premiums, deposits on utlilites and rent, and the ability to be able to get a job? if someone has a bad credit score and can't get a job, how are they expected to live? or don't they deserve to live? I think credit scores are getting too out of hand"
Do you agree that the credit checking is getting out of hand?? I feel it is a bit intrusive and how about people that rather dont have debt and only pay cash for everything, including buying a house or a car, so then their credit score is low. When I was selling cars, I saw a lot of Chinese families buy cars cash, they didnt have credit cards. Their homes were also paid for. I rather pay for things cash if possible than having to owe the credit card.
Also, while I was married my credit score was 750 but since my separation and later divorce and the lack of support from my ex and not finding a job at the time, and my ex using to the max the credit cards that both our names were in or taking my credit cards and doing the same, it didnt matter I cancel them, I was liable and my score went to 500, is now up a little bit but not enough to try and get a mortgage were I would be paying less than rent but here I am, having to pay higher rent due to my bad credit score. It seems to me that there are times that one can be a good payer but circumstances around us changes that and the credit score system doesnt help in this circumstances, one has to be stuck until the score goes up and it can change so quickly too.