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The 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 yo
by Karunamon 9y ago
The 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.