There's one born every minute, the bankers etc know exactly what they are doing, and have been in power long enough or financed a cronnie into lawmaking positions that they can get away with it. Yes good credit is important, but use it wisely, don't buy a new car, buy one a year old, have a large down payment, that way you don't fatten the lenders pockets with interest, or better yet buy low end used and pay cash. ( I know this is not an option for many) The only thing that should be financed ever is a house or real-estate, in some cases durable goods such as furniture or emergency car repairs if you only have one car and depend on it to get to work. Never charge food, clothing bar tabs or recreational stuff. It is a losing proposition, the only winners are the lenders and credit card people.