It was college and they were giving away free t-shirts. That was pretty much all it took to create a line around the corner as a few hundred students signed up for new credit cards that they knew they couldn't pay back if they maxed them out.
Let me get to the point...I am learning with every major financial decision that your credit score is WAAAY more important than anyone ever told me about growing up.
In fact, the majority of the people I know have poor credit to some degree mostly based on making poor financial decisions earlier in life.
I admit that I don't know everything about this topic myself. I only know that some of the things I have done lately would never have been accomplished if my credit score was fucked up....so maybe this will keep some of you knuckleheads from screwing yourselves over.
Hopefully others can contribute because free t-shirts may keep some of you from buying that house later on.
To start, this is what goes into creating a good credit score:
35% Payment history
30% Outstanding debt
15% Length of your credit history
10% Recent inquiries on your credit report
10% Types of credit in use
I personally think it is fucked up that "inquiries" into your credit score affect your credit score.