The imbalance of the credit system: an education issue
Like many people in this country, I have had credit issues in the past and have to “repair” my credit. As educated myself on how to repair, I realized that a lot of the tools used to repair credit are faulty tools. A lot of these tools can land you back in that credit trap that you just escaped from. If you were repairing your car, would you knowingly use faulty tools to the job? Have you ever looked at the fine print on some of the myriad of credit card offers that come in the mail? $25 one-time processing fee, $79 annual feel, and $8 a month processing fee, all for a credit limit of $700! What is worse is if you are not educated on what is best for you and sales techniques, you can get bamboozled into signing up for one these cards. The sales people are very slick and they are fast talkers. Credit involves risk; that I understand completely, but there are so many factors that can affect a credit score, and many of these factors are out of our control or require st...