Most Americans can’t afford a $400 emergency and live pay check to paycheck. Car breaks down, emergency medical expenses, emergency house breaks down could all cost over $400. You need a Credit card for that back up that you could eventually pay back by probably sacrificing something else. Need a car need a credit score or you pay $3-10,000 more in interest same with buying a home. Want to rent need a credit check. Want to get a job at a bank, military contractor, some government positions, and other secure jobs. They want to make sure you don’t have bad credit or can’t be taken advantage of . Which no credit is often considered bad credit.
If you don’t have 400 in savings and live paycheck to paycheck how can you borrow 400? Like how can you pay that back? It still seems really weird, and if you can somehow pay it back, why didn’t you save a small amount before the car broke down?
Most Americans can’t afford a $400 emergency and live pay check to paycheck. Car breaks down, emergency medical expenses, emergency house breaks down could all cost over $400. You need a Credit card for that back up that you could eventually pay back by probably sacrificing something else. Need a car need a credit score or you pay $3-10,000 more in interest same with buying a home. Want to rent need a credit check. Want to get a job at a bank, military contractor, some government positions, and other secure jobs. They want to make sure you don’t have bad credit or can’t be taken advantage of . Which no credit is often considered bad credit.
If you don’t have 400 in savings and live paycheck to paycheck how can you borrow 400? Like how can you pay that back? It still seems really weird, and if you can somehow pay it back, why didn’t you save a small amount before the car broke down?