The Crutch Called Good Credit

In today's society the reliance on good credit is the equivalent of having money in the bank or it may even be likened unto a reservoir of good standing which in some cases is worth more than sums of money in the bank. However, good credit in many instances has been pushed far beyond its original intent both by individuals and by corporations in the economic arena. Individuals knowing the latent power and leverage of good credit have in many cases squeezed credit to acquire personal wealth and fulfill dreams. In similar instances, corporations have levied the awesome potential of good credit giving rise to exorbitant profits and inflated assets. Such practices have given birth to the ineffective and misappropriated use of the crutch called good credit.

The intended use of good credit has seemingly been sidelined by individuals and corporations alike with inventive minds capable of manipulating and devising methodologies of extending good credit beyond the limits of ordinary imagination. The good credit is seen as a bolster to greater wealth instead of "the good faith" approach to conducting business. Good credit has in such instances been manipulated and falsified like a rich man pretending to be a beggar with a cup asking for help. Such deceit unfortunately serves only to destroy valuable trust and create havoc where the innocent lose their chance of genuine help in the time of need.

Individuals have allowed themselves to envision credit as the panacea of fulfilling personal lofty dreams of harvesting wealth and accumulating things. In this regard some people have acquired multiple credit cards in a misconceived scheme to acquire as much assets as possible with the pre-conceived thought of being able to pay off the credit card bills over a period of time. Thus, the credit lines are used in a mad desperation to pay off rising balances that become due, but only to create more unwanted bills. Of course, in a short time the inevitable occurs and the debts increase with rippling effects costing the individual everything including his or her good credit which should have been a lifeline especially during such difficult times.

In a similar manner some corporations have knowingly stretched good credit limits with their unsuspecting business partners. The motive in such cases as usual is greed and a cunning desire to be able to go as far as possible in creating more income without paying the true cost. In this scenario one company could easily find itself with a debt which cannot be paid and conversely, another company with an asset of no true value. However, such practices are always shortened by time itself even though it may take a few years to happen. The end result being the use of good credit in the wrong manner will terminate the availability of credit itself.

Good credit is supposed to serve as a cushion or even a crutch to those needing a helping hand for a limited time. It is suppose to be "a means to an end" for whomever may be in need of extra time to secure funds for an outstanding obligation which is about to become due. Unfortunately, it has become "the end to a means" of having and being assured of help. Will "the crutch called good credit" ever return to its former state?