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Would the criticism go away if they called it a credit score?

by zipwitch 8y ago

deleted 8y ago
[deleted]
lgregg 8y ago
For most people, it would just be a misnomer.
gruez 8y ago
>Would the criticism go away if they called it a credit score? would the criticism go away if they called it a happiness score? for all the faults credit scores have, the only factor that they take into account are your credit events. they don't track every aspect of your life.
- munk-a 8y ago
  Credit score tracking is privately managed and incredibly inaccurate, it can lead to people being unable to qualify for mortgages when their financial situation is quite solid. Additionally credit score calculations are all proprietary and may have begun taking your social life into account (there are mixed reports) but given that health insurers are already upping the pressure to gather more of your personal data I doubt they're far behind, the difference is that health insurance is a much more highly regulated field so we have proof they're doing it, credit score trackers do all that stuff behind closed doors..
  - gruez 8y ago
    >Credit score tracking is privately managed and incredibly inaccurate, it can lead to people being unable to qualify for mortgages when their financial situation is quite solid The first thing I did was say was that credit scores aren't perfect, so I'm not disagreeing with you on this. as for the "incredibly inaccurate" claim, are you talking about accuracy as a whole, or people on edge cases being screwed because they have a bad score? because I highly doubt lenders would bother paying for a worthless risk model. >Additionally credit score calculations are all proprietary And you think the citizen score isn't going to be? >may have begun taking your social life into account (there are mixed reports) [...] credit score trackers do all that stuff behind closed doors.. https://en.wikipedia.org/wiki/Fair_Credit_Reporting_Act https://en.wikipedia.org/wiki/Fair_Credit_Reporting_Act ? Also, you can opt-out of social media, not so much the government. I'm not sure what you're trying to do by pointing out how bad credit scores are, because citizen scores are clearly worse, considering they can collect everything credit bureaus can, but more.

Would the criticism go away if they called it a credit score?

deleted 8y ago

[deleted]

lgregg 8y ago

For most people, it would just be a misnomer.

gruez 8y ago

>Would the criticism go away if they called it a credit score? would the criticism go away if they called it a happiness score? for all the faults credit scores have, the only factor that they take into account are your credit events. they don't track every aspect of your life.

munk-a 8y ago
Credit score tracking is privately managed and incredibly inaccurate, it can lead to people being unable to qualify for mortgages when their financial situation is quite solid. Additionally credit score calculations are all proprietary and may have begun taking your social life into account (there are mixed reports) but given that health insurers are already upping the pressure to gather more of your personal data I doubt they're far behind, the difference is that health insurance is a much more highly regulated field so we have proof they're doing it, credit score trackers do all that stuff behind closed doors..
- gruez 8y ago
  >Credit score tracking is privately managed and incredibly inaccurate, it can lead to people being unable to qualify for mortgages when their financial situation is quite solid The first thing I did was say was that credit scores aren't perfect, so I'm not disagreeing with you on this. as for the "incredibly inaccurate" claim, are you talking about accuracy as a whole, or people on edge cases being screwed because they have a bad score? because I highly doubt lenders would bother paying for a worthless risk model. >Additionally credit score calculations are all proprietary And you think the citizen score isn't going to be? >may have begun taking your social life into account (there are mixed reports) [...] credit score trackers do all that stuff behind closed doors.. https://en.wikipedia.org/wiki/Fair_Credit_Reporting_Act https://en.wikipedia.org/wiki/Fair_Credit_Reporting_Act ? Also, you can opt-out of social media, not so much the government. I'm not sure what you're trying to do by pointing out how bad credit scores are, because citizen scores are clearly worse, considering they can collect everything credit bureaus can, but more.