By: Brett

Within the past few months, I have looked into purchasing a house and have looked for a few cars. Apparently in that time they have run my credit so many times that it has now negatively effected my credit. How many things do they pin against you to RUIN your credit, simply to take more money from you with higher interest rates once you are eligible to obtain some form of credit. There is a serious problem with the credit system in this country and how badly young adults are effected by the lack of education on their credit. One tip for potential car buyers: Don’t goto Carmax.. they run your credit to dozens and dozens of banks at the same time and then let you choose which one you want to go with. So really, you are applying to ALL of those banks and this will effect you score in a very negative way. Carmax sucks for many more reasons that this, but for purposes of this post I’ll stop there.

I didn’t even know about credit until about 4 or 5 years ago, when I tried re-financing my car. I didn’t know that simply going to school and having student loans would hinder me. Nor did I know that missing one payment on a credit card, or going over the limit would drop me down into the “Hell No” credit bracket. I find it amusing that the system that determines how bad one’s credit is, is the same system that profits from higher interest rates.

The awesome thing about credit scores is that it could take you seriously about 3 days to completely destroy your credit score, but would take you years and years to gain back 20 points. I’m going to simply just save up cash from now on and stick it to the credit card companies. Credit Cards are the devil.. just ask 90 percent of people that get completely molested by them. What was that a late payment by a few hours? Oh, your interest rate just jumped up to 29.9%.. sucks to be you.

This entry was posted on Friday, September 21st, 2007 at 11:59 pmand is filed under Misc, Daily Rants. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.