It used to be that your credit score was nothing more that what a lender needed to know when you applied for a loan. Nowadays it means your entire livelihood depends on it, even if you don't have any loans and don't believe in credit cards. Forget the government, it is big business that controls our lives.
For example, if you have a low credit score you will have higher car, home and health insurance rates. Yes, those insurance companies base their quotes on your credit score not your driving record or current health although those items do play a percentage of the quote but only after they run a credit check on you.
High insurance rates are not the only way that we are screwed, employment is another way. Most states allow employers to run a credit check on prospective employees (this happens only if you give them your SS#). A few states have passed laws that make this illegal. Oregon in one of them. One way to stop a company running a credit check on you is to not give them your SS# until after you are hired. In fact you shouldn't be listing your SS# anywhere on applications for employment, just write in the box "will be supplied after hire."
Then of course, big business likes to scare you with the threat of identity theft so they offer a free credit score service so you can get a free credit report.Then they try to get you hooked into paying a monthly fee to "protect" your credit. I say it is all a big scam that the credit card and credit bureaus are pulling just to rake in more money from us poor saps.
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