'Credit-score company encouraged me to borrow again when I was nearly debt-free'
Credit Companies Want You to Borrow More. This Is What They Do. Here's How to Think About It.
What Happened
A person reported that a credit-score monitoring company encouraged them to take on more debt when they had nearly paid off their existing obligations. The BBC is covering this as an example of how credit companies operate.
What's In Your Control
• Whether you take the company's advice to borrow more money
• Your own financial education about how credit companies make money
• Setting up automatic payments to avoid carrying balances
• Choosi...