Let’s face it. Credit makes lots of people angry. Credit cards, credit reports, credit scores and lending in general can be a confusing business. That confusion turns into concern, then exasperation, which can morph into rage. It’s completely understandable.
Part of what we do at Credit.com is provide people with an outlet for this rage (and other feelings, not all of them negative). People share their stories with us via email, Facebook and Twitter (with brevity). We also enjoy seeing healthy exchanges in the comments section of this blog. We do our best to answer your questions, and when possible we turn comments into stories from which everyone in our community can benefit. Here are a few examples of these stories:
- Will Filing Bankruptcy Hurt My Children’s Credit?
- Will an Employer Credit Check Hurt Your Score?
- Why Did My Credit Score Drop After I Paid Off My Balance?
Sometimes, however, people mainly want to vent about bad experiences or the system in general… which is just fine, too. Here are some examples:
“It’s irritating that financiers only look at the almighty credit score, which says next to nothing and it’s based on some algorithm.“
“The credit system is a racket set up by the financial industry. I say that even though I have a high credit score from all three agencies. We are FORCED to use credit, even if we neither need to nor want to. If we do not use credit, we will have no credit score and be forced to pay too much for home and car insurance. For 10 years, I lived outside of the U.S. My credit history disappeared, so I had to pay too much for insurance when I returned. Also, there is a serious risk of identity theft. Forty years ago, some of us knew that using social security numbers as a universal identifier would lead to serious problems, but our concerns were ridiculed. Now, it has happened. Because the credit industry has powerful lobbies, we can do nothing about it. The credit industry has created a dangerous system that puts all of us at risk for ID theft and now they expect US to pay for ID theft protection!
Also, the three credit reporting agencies will not provide the exact formula they use for calculating our credit scores. That information should be available to the public. Moreover, they will not provide scores to us unless we pay them, even though providing the three-digit number with a credit report would cost them nothing. It’s a racket!”
“FICO scores; credit reports JUST ANOTHER rip-off. RIP-OFF!! NOV 2012, I checked my credit score @ 716. I went looking for a specific vehicle: 1997 thru 2002 Chev. Camaro z28 SS with 6 speed stick shift. PERIOD. i finally bought one at a dealer in San Diego… So the dealer ran the credit, and the bank (Wells Fargo) ran the credit; a couple of places I was debating about buying a Camaro from, they all ran my credit… my FICO & credit scores had dropped to 651 because of ‘excessive inquiries’. “
“Student loans are just one more racket on how the government will control you. They hand them out like candy and then you get screwed when it is time to pay for them and do not believe that they work with you because THEY DO NOT…..they will take your first born if they could–they are evil and for all the attention and print that Student loans are getting these days do you see Obama say a word about them….no he is telling people that all people can go to college……yeah….how…..they can hardly live and in todays world you never know what is around the corner….we aRE ALL CONTROLLED BY INVISIBLE FORCES AND THIS IS JUST A CLASSIC EXAMPLE OF THEM…”
“All those ‘low intrest’ rates you see like 3% car loans, 2% mortgage rates, and others don’t apply to the “Little People” as they are reserved for the 1%ers whom have millions if not billions in the banks. Your measily bank account means NOTHING to these parasitic banksters!!”
We encourage that kind of expression, too, here at Credit.com. As I mentioned, we rely on these comments to inform our reporting. With that said, we invite you to give us your Credit Rage and whatever else you’d like to say in the comments below. We only ask that you keep it PG, respect your fellow commenters and moderators, and be patient. (We moderate these comments, so it may take a little time before you see yours pop up).