Holidays done, back to the credit grind.

I have read what a lot of people say about credit and how important it is. Also how easy it is to lose. If you ask me, all the lenders are going to have a big problem a few years from now.

They will see someone walk in the door asking for a loan or a credit card and because of their current credit score, they will be turning away someone who had been hit by the recession with a job loss and loss of credit, who before that had excellent credit for many many years.

That person will have been back to work for some time and continuing with their excellent credit habits, but still carrying a bad credit score and will still get turned away because of the problem they had, (job loss) which was beyond their control.

Something is wrong with the credit recording system and it needs to be fixed fast. Will it be fair that a person who lost their job in the biggest recession in many years is turned away for a loan or credit card, when what happened was beyond their control.

Credit scores really seem to be just a roll of the dice away for anyone to lose their good credit standing, and that my friends is the whole problem with the credit system.

You would figure that as lenders who make money from the amount they lend, that they would want to change the system of credit scoring to let them also know the overall average credit score a person has and not just their credit rating after they have taken an unpreventable and unexpected  tumble down unemployment lane.

There is going to be a big sector of loans that will be lost to the lenders because of the way the scores are reported and it will not only hurt them, but it will hurt the individuals who fell victim to the big recession and lost their credit due to no fault of their own.

Something has got to change to get these used to be good credited people, back into the credit system and lessen the mark the recession has against their credit score.

Hell, even baseball players may have a bad night at bat, but are judged on their average hits for the season and not just their hits for that night, yet our current credit scoring is so old hat, that it would condemn them just because of that bad night.

The credit recording and reporting system needs to be changed to a more fair system for all. More of a life average, with how you have been scoring for the past several months factored in. Bankers and lenders better take notice and get the system up to date or they will lose a bundle.

That’s it, greed will get them to change it! And for all you job seekers, that’s how smart your perspective employer is, judging you completely by a bump in your credit history that was out of your control. That’s OK, could you imagine what it would be like to work in a place that would make such snap decisions on partial data like that anyway! Wow.


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