7 secrets your credit report won't reveal
You may think your credit report says everything about you to anyone who will listen. But here are 7 personal details its pages don’t divulge.
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This is all a crock anyway as these reports are meant to provide an excuse to lenders to maximize interest rates for citizens who borrow for anything. Our wages are kept artificially low so we have to extend credit even for a minimal standard of living (like personal transportation). I realized that once citizens starting behaving more responsibly and they created Universal Default so they could tag more as a "risk" and raise their rates. Also when banks started using the European Libor rate and (look back) as opposed to US Prime to determine base rates. Since the whole Libor process has proven to have been seriously manipulated, the case has been made for BS. You can live your life trying to keep abreast of all the "rules" used to define "good credit" behavior or you can reduce the amount of things you "need" and stay away from credit as much as possible. I am sure they will only raise the "score" or deploy some other trick to score credit worthiness to bilk whatever citizens remain in the process to make up for those that have opted out. In the end very few of us "opt" to borrow for a car, college education or a new home...what should the credit score be for banks that failed...they seem to be getting zero percent...why is their behavior less critical to their "scores" than ours? Bogus bogus bogus!
The problem with the credit report companies is they do not verify the information. Any company can place something negative on a person's account even if the company did the wrong. The American people should make the credit reporting companies more accountable for what they report. They should have to contact the party they are reporting before being able to report.
A creadit report and rating is the most valuable tool a person has, yet we have no say in how it is reported, and we have NO IDEA how it is calculated. The Great Myth, too, is that credit can be "rebuilt"--once you screw it up, you are marked./ It is nearly impossible to rebuild a credit rating. And I have seen many a friend fall victim to those so-called "credit repair" people as well as those so-called "credit rebuilding" credit cards. Just stick to caysh. Credit is a trap.
I have a bad credit rating, lots of gray hair and not one of them caused by credit. If fact, you get exception when you attempt to pay for a large item in cash. The only things I really miss are the offers of obtaining cards with a 15% discount on anything purchased.
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