It wasn’t so long ago that credit card companies would just send out cards to everyone in a postal code, the idea was you had to return it if you didn’t want it, or they assumed you did and charged you the annual fee. Or you accept the fee and start using the card. It took an act of congress to stop them from doing that.
Around that same time the credit card companies were also getting a lot of flack for issuing cards to newborns, pets, and the deceased. That also took an act of congress to stop.
The US credit agencies themselves are only a few decades old, people have been borrowing and lending for a bit longer then that - you can read about it in the Old Testament.
Around that same time the credit card companies were also getting a lot of flack for issuing cards to newborns, pets, and the deceased. That also took an act of congress to stop.
The US credit agencies themselves are only a few decades old, people have been borrowing and lending for a bit longer then that - you can read about it in the Old Testament.