Good credit good life?

When credit ratings were first introduced all those years ago, no one would have predicted they'd have such dominance on our day to day lives.

In today's environment, where you can get just about anything you want and pay for it later, it has become imperative to have a good credit rating, mainly because it has a lot to do how much everything costs you.

Everything from furniture to cars can be taken out on credit, but most retailers will only extend these offers to people with good credit, those with bad credit will either pay upfront or are charged a higher interest rate.

If you thought a good credit score was only necessary when finding a mortgage, time to think again. A good credit rating is important not only when applying for a credit card, in this case there's always credit cards for bad credit, but because anybody from your landlord to a possible employer uses it as a mark of trustworthiness. Ofcourse you can always work to see to a good credit rating by paying off your debt or consolidating with a debt consolidation loan with bad credit which would give you a bump but by no means arase your debts.

Should credit bureaus have this much power over people or is it a fair service they offer that ultimately contributes to the well being of society?