I see no reason for credit to even exist except for the case of investment. Ideas need material currency to get off the ground because people demand compensation for their work. It is more efficient to have work start, incur a debt, then make up with productivity later than to wait for enough capital before being productive. Science would be slow without credit since everyone would want payment in full before research started. Our world would be slow evolving if capital for every piece of equipment had to come in before work started.

Credit has it’s place in the world but the problem I see with credit is that it is in too many places where it should not be. You are not going to die if you don’t have your 90 inch TV now. Using credit for cars and houses is stupid unless the car and house are going to make money for you, make that money fast (none of these I’ll break even in 40 years by which time inflation eats my funds or old age eats me), and is a low risk loan. Credit is a very volatile tool which should be treated like a firearm. Educate yourself about credit. Use only when the situation absolutely DEMANDS it.

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My biggest pet peeve with credit are the credit card companies paradigms. These companies are in it to make money. Many things in life should not be “for the money.” Healthcare, insurance, and credit are some of them off the top of my head. Highly conscious folk need to run these organizations after we tear out the mess these organizations have put forth in our world. Credit companies ENCOURAGE people to go bankrupt by offering heavy credit users bigger loans!!! The more you use your card, the more debt you incur, the more credit you can have!

I pay off my credit bill in FULL every month and this was my mistake. The credit card companies NEVER raised my limit. The companies claim they only give loans to “good credit people” but me with a perfect record of ALWAYS paying on time and IN FULL never got a limit raise. I only got a credit raise AFTER I started PAYING MINIMUM + 5$ on every balance. Thus, by “incurring debt” to the credit card companies barely 2 months later they raised my limit 3,000$!!!

Credit in today’s form is all a scam. If you want to beat the card companies use your credit to raise a debt you KNOW you can EASILY pay off. Then just chip away at this debt with minimum payment + 5$ a month. Beat them at their own game. They will think you’re in debt and TRUST you with MORE MONEY (of course in hopes you go bankrupt and they can reposess all of you).

Let’s abolish credit and demand credit only be used in investment where it belongs.