6 ms·
The credit score is used for all sorts of things in the US, from the interest rate on your mortgage to qualifying for renting to even some employment checks. It
by yolesaber 10y ago
The credit score is used for all sorts of things in the US, from the interest rate on your mortgage to qualifying for renting to even some employment checks. It's fucked up, especially since the formula for calculating the 'score' differs from one agency to another and is deliberately kept obscured.
- nitrogen 10y agoIt also seems kind of like voodoo; scores change up and down over time with zero change in behavior.
- yolesaber 10y agoYeah that's why I really don't pay attention to it. Plus the fact that it is so easily gamed: if a party wanted to (such as a realtor or someone else with access), they could just run hard credit checks on you all day and tank your score. To illustrate how fucked it is, I use a credit tracking app from my bank and it consistently reports scores of 700 and above yet I've had realtors tell me they weren't sure if I could get an apartment because of my credit score - showing up with enough cash for the first six months of payments quickly resolved that issue.