3 ms·
Goes to show how silly credit scores are
by zaptheimpaler 9y ago
Goes to show how silly credit scores are
- samstave 9y agoThey are insidious, not silly. The reason is that they mean little for those with tons of money - but they mean everything for the average person with limited money. They literally keep the poor poor.
- Karunamon 9y agoThe concept of credit scores has a reason to exist, it's just our implementation is broke a million times over. There's nothing wrong with a business loaning you money having the knowledge aforehand that you don't pay your obligations on time.
- sova 9y agoSo it is! Yet, the ideal score is not one that reflects ability to repay, but ability to say conveniently under the thumb of a credit card company.
- Karunamon 9y agoIf by "under the thumb of" you mean "using less than 30% of available credit and carrying some kind of balance". There's no need to apply melodrama to a simple matter of statistics to answer the question of whether someone can use credit responsibly.