I guess in some ways it's good to have bad credit. I was really irresponsible and moved out of my parents' house when I couldn't very well afford it. As a result, I was pretty much prevented from getting myself in any kind of debt. Over the last seven years my credit has been steadily improving -- I managed to get approved for a car loan, and I get credit card offers in the mail almost daily. But even so, the combined limits of all my current credit accounts is only around $3,000. I use my debit card for just about everything, even major purchases. And one of the reasons I have extra cash on hand is that I don't have significant credit card payments! I think everyone I know who has really great credit is completely buried by their debt. Given the choice, I guess I'm better off.
Okay, now go ahead and flame me.