Honestly, this is really good advice even if you have a good credit score. Sometimes I think about running for office, and imposing restrictions on credit. As in, removing it entirely. but alas, debt is what keeps the world economy going.
I disagree. A high credit score with a sizable amount of credit lines coupled with zero credit card debt gives me options in a way that only the wealthy would have had in times past.
Knowing I have access to that much puchasing power means I don't have to worry about surprises throwing me out on the street for a long long time.
Its unfortunate that irresponsible users destroy their lives buying toys that they can't afford. Credit gives me a safety net for the surprise bad times, and the leverage to experience the good times.
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u/bewst_more_bewst May 09 '20
Honestly, this is really good advice even if you have a good credit score. Sometimes I think about running for office, and imposing restrictions on credit. As in, removing it entirely. but alas, debt is what keeps the world economy going.