| Completely agree, for the proportion of the population that doesn't take loans ever this certainly seems to make some sense. I'm just saying that, imo, for the vast majority of Americans the ability to get a loan is more important then she implies. Not to mention the fact that Phone-Carriers/Recruitment-Agencies/Utilities-Vendors check credit scores as well. It's effectively coming to terms with the fact that you won't be getting a new car/home for 7 years unless you can afford to buy it with liquid assets... So, unless your income is so great that you can save up for a car/house on TOP of affording rent + food/clothes/etc + student loans, you won't be getting one until your credit recovers. You last paragraph is basically my point, limiting oneself is _not_ popular these days, that's exactly why most American's would regret this decision because eventually they would find themselves limited. Perhaps they should be. I feel like I should state down here that: a.) I hope I never have to borrow money in my life, but I probably will. I don't think it's the "right" way to live or anything. b.) I think this does make some sense for certain people. c.)I don't think bad credit ruins your life, but I do think it has a bigger impact than was implied. |