Personal finance.....?

What are the signs of credit overuse? Do you think credit has done more harm than good to the average consumer? How, and who is to blame? What experience (good or bad) have you (or someone you know) had with credit? Do you think that credit (credit card, personal loan, or mortgage loan) is too easy or too difficult to get? Do you share the view that bad credit is better than no credit? Why? As credit manager of a medium-sized company, who would you extend a $5,000 credit to: Mr. Jones who states on his application that he had had a few credit problems but he is now a changed man, or Mr. Brown, a police officer, who has no credit history? Explain.Personal finance.....?
When you have too much debt

No

The credit card holder

Good

Not anymore

No

No

BecausePersonal finance.....?
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The number on sign of using to much credit is owning ANYONE money. NO credit is better than bad credit because it forces you to live withing your means.
Being an officer is a precious livelihood
Why do you want some stranger from the internet to do your homework?



I would charge you $500 to write your paper. LOL
I think credit is killing America...however we need it to keep the economy afloat so it is very tenuous, ie who could buy a new car for cash, no one or very few so we need credit. Tax advantaged credit ie student loans and mortgages are not so bad and at low rates, it is using the banks money to build wealth...but credit cards etc are evil.



No credit is not bad and easily fixable bad credit is bad and should be avoided at all costs.



As a credit manager I'd give it to the no credit guy as he has a solid job and has never shown any reason to doubt him, why make him guilty before he has done anything wrong, the bad credit guy has proven he will not pay at least one time in his life, so he has a track record.



By the way, I have bad credit as part of trying to start a small business so you'll see I am not prejudiced.
Hi,



I think that credit is grossly overused by the majority of the population. I know of someone who has roughly $60,000 in revolving credit debts. They were just approved for a $500 credit card. So yes, I'd say it's too easy to apply for credit.



Payment history and ability may explain your last question. The police officer has a stable job with relatively decent pay and, just like teachers they have, as a profession, a good history of paying debts.



Mr. Jones, however, has proved already that he doesn't respect his credit and has trouble paying off debts. Have you ever heard the expression 'Your actions are speaking so loudly I can't hear what you're saying?' Mr. Jones is going to have to start with actions that help build credit. Start small and 'prove' he's a changed man.



In general, I'd say credit has done more harm than good, 'enslaving' people and holding them back from reaching their goals.



In some ways it is good however, fueling economy and allowing businesses the ability to keep afloat and keep people employed.