Why You Don't NEED a Credit Score

Our society has been spoon fed the myth that the FICO score is king. We work, we pay bills on time, we are slave to the almighty credit score. Every time we turn around, someone wants to sell us credit or help us improve our scores. We are told from a very early age that we must establish credit by opening credit cards and using them repeatedly. We are led to believe that debt is a tool to help us build wealth. But it is all a myth. We don't NEED credit scores. In fact, by trying to obtain a good credit rating, we are setting ourselves up for failure, or at the very least, for a lifetime of debt.

College students are inundated with credit offers to "help" them get started in the "real world". They are given limits that far exceed what they are even able to pay while going to school full time. Many of them do not even have jobs with which to earn the money to repay their creditors! Add to this student loans, and most young adults start off in the real world with a stack of bills that they struggle to pay with their entry level jobs. In fact, a large number of people that file for bankruptcy each year are college students. But this fact doesn't stop these credit mongers for chasing their prey or feeding lies to these impressionable young people.