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On another note, alternate between two credit cards. I found out the hard way that cards that are classified as business cards are not reported to the ratings agencies even if they were acquired with your personal SS#. I cannot put into words my distaste for the way credit scores are being handled.

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Credit scores were invented in 1989. Most countries don't have them at all. (UK, US, Canada, Spain, China and Japan do) Personally, I think they should be illegal.

The funny thing they were supposed to provide more equitible and fair decisions in issuing loans, but the exact opposite happened.

And still at the end of the day, lenders mostly care whether you earn enough to pay.

The credit rating is mainly a way to check how much credit you already have available and whether you’re up to date or not. Oh, and verify your identity (probably the primary purpose of them).

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