Credit Freeze Thoughts

by Michelle
(Salem, Oregon, USA)

Regarding Credit Freeze Thoughts: Hi Kate, I work in a business that is effected by the Credit Freeze. The main concern will be the holiday shopping season. Very few people will be spending on gifts this year. Most people have been using their credit cards to pay for food and necessities. When that resource isn't available, I'm not sure what they will do.


There are others that put off purchases because they may need the funds for something else later. I personally haven't bothered to apply for more credit. I have enough debt to pay back as it is. It will probably be two years before I consider applying for a loan and definitely not a credit card. Consumers might just see lending companies begging for customers after the Credit Freeze thaws out.

My opinion is that consumers will learn to get along without credit and decide they really don't need it. Many of them are offended that they're reduced to credit scores instead of people. If the Credit Freeze is to happen, we'll need to put some humanity back into the way we do business.



PS What if you could turn YOUR dreams into reality? Now you can. This is MY story of dreams coming true.

Return to Get Your Best Mortgage Rate from Credit Freeze Thoughts

Click here to add a comment.

You can also ask Kate about your mortgage at How to Improve Your Credit Rating with Amazing Success.

Recent Articles

  1. Lock Mortgage Rates - How To Avoid Hidden Fees

    Aug 06, 18 11:58 AM

    If you lock mortgage rates over the phone, how do you protect against excessive points and hidden closing costs? Learn what to do when your lock is threatened.

    Read More

  2. Finding Low Down Payment Mortgage Financing

    Aug 06, 18 11:53 AM

    Getting a low down payment mortgage: Learn the first two steps to financing niche properties in resort areas. Tip: It's not about timing the real estate market!

    Read More

  3. Ten Best Kept Secrets to Low Mortgage Payments

    Aug 06, 18 11:45 AM

    Ask Kate's secrets to low mortgage payments help homeowners understand industry lingo related to refinancing. Learn how to get your best mortgage rate!

    Read More