Why do we need Credit History ? Is it to show our Credit Worthiness ? What if I choose not to pay something even if I was capable of paying it.
I've got couple of friends back home who do not have a credit card only because they think it is a liability. So, it looks that such people cannot exist here in the US. Well, they are not here anyway.
I am finishing this piece after a long time. I realize that Credit History is a double edged sword. You keep it clean, it helps you out otherwise you are in for big surprises. Surprises like someone else is using your credit worthiness to get services.
I think Credit History is a complex result of various parameters like salary, spending, payment etc. But, why keep it so complex that the common man find it obfuscated. Simplify it and make people understand what it really is and how one can nourish it.
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