4 ms·
You don't get bad credit for jaywalking or whatever is suggested. It's a tool to measure your ability to repay debt. I think it's already abused, but it's nothi
by serge2k 10y ago
You don't get bad credit for jaywalking or whatever is suggested. It's a tool to measure your ability to repay debt. I think it's already abused, but it's nothing liek what is talked about in the article.
- mikeash 10y agoPlaying devil's advocate here: you get bad credit for perfectly legal behavior that companies just happen to dislike, whereas stuff like jaywalking is at least an actual crime.
- sigstoat 10y agoyou get bad credit for failing to do what you voluntarily promised you'd do. you get good credit merely for following through on your promises.
- rconti 10y agoI'm sure there are all kinds of legitimate reasons you can get bad credit, before we even get into all of the mistakes that could be made. One of my credit cards gives me monthly updates on my credit score. It always lists 3 positive and 3 negative factors impacting my score, no matter how good the score. Currently one of the 3 negatives is "highest credit card limit too low". Not debt:available. Just straight up "too low a credit limit on your highest-limit card". And yet, I could buy an entry level luxury car on several of my credit cards. I'm not implying that a silly ding on my credit like that is as 'serious' as delinquent payments, but... well, the truth is, I have no idea. And isn't that the point?
- callalex 10y agoThis is not accurate. My credit score is quite low for a person with zero debt and great financial standing, because I don't have a credit card. I am being punished for not buying a product that I have no need for.
- ams6110 10y agoSimply having a credit card doesn't cost anything. You're choosing to live your life in a way that is contrary to what our society has determined is a positive financial profile. If you're trying to make some kind of point, or protest something, fine -- but then don't complain about being "punished."
- sangnoir 10y agoWhen was the vote / referendum on this where "society" made this determination? At most, a few credit ratings company made this decision and "society" tolerates it for convenience. An equally workable system would be to to default to a high score and deduct points for bad behavior, but this would be bad for business as it wouldn't force people to get credit they don't need.
- literallycancer 10y agoHow is it for someone with no credit history at all (say, someone who doesn't use credit cards because they have enough of their own resources)?
- ams6110 10y agoBetter than having demonstrated bad credit. Not as good as having demonstrated good credit. Of course, in most situations actually being able to pay cash negates any of it.