What if I were to tell you that the National average for credit scores in the U.S.A. were around the 680 range? Does that mean that the majority are of us are doing rather well? Paying all of our bills on time, maintaining a positive debt to income ratio. Do you believe that? If the 650-680 ratio is accurate, then how is a score of 700 or above really that distinguishing?
I always thought distinguishing criteria was hard to come by, hard to earn and harder to maintain. If the majority have distinguishing credit, doesn’t that mean it’s really not that distinguishing? This just makes me wonder, with The Federal Reserve constantly manipulating interest rates and simply printing money, is it really worth what we think it is?
Are you ready for hard times? What if the majority didn’t have credit or even easy access to credit? I wonder what the credit score average would then be? Your money is liquid, your credit is faith, neither are actual commodities. Both have the potential to become worthless and obsolete.
You ever heard of hyper inflation?