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>I can't believe people keep equating these two systems. You want to work here? We are going to have to check your credit! Which system is it? You’re born p

>I can't believe people keep equating these two systems. You want to work here? We are going to have to check your credit! Which system is it? You’re born poor and apply for your first job, a nice government job with nice government benefits, but can’t get it because you don’t have any credit established. Hell youre poor, forget credit you can’t even open a bank account, go apply for a minimum wage job, then head to the check cashing/cash advance store. Look at social mobility in this country, pretty sure it’s the lowest of all first world economies, it’s pretty dystopian.

Just_Smith 8y ago
I'm a bit surprised that people in this thread don't seem to understand the parallels between social and economic status. It's not some grand revelation either - it's pretty much common knowledge. There's obviously a distinct difference between these two systems, but to say "China's social credit system has nothing in common with America's financial credit system" is pretty ignorant to how important having good credit is to being successful in America.
- will_brown 8y ago
  And I tried to acknowledge the difference in my original post, by saying it’s “just a different way to skin the cat.” But that’s why I added the edit, because I had to acknowledge people in the US love the credit system like people in China will love the social credit system. That’s unfortunately probably the most important parallel the people welcome the systems.
  - Just_Smith 8y ago
    I agree - so long as financial credit comes with perks, people are going to be apologists for its flaws. Now that I work in software, keeping good credit is a non-issue. However, when I was making less than $10k/yr, it was the bane of my existence.
- lifeformed 8y ago
  Yes they're related, but think of the differences: US credit score = 35% payment history + 30% debt burden + 15% credit history + 10% credit types + 10% recent credit searches. Used for lending, and sometimes for leasing and employment. Social credit system = a black box of metrics that can change at any time, relating to your speech, browsing history, political ideas, entertainment choices, shopping history, dating behavior, etc. Used to limit options in travel, education, dating, purchasing, internet speed, etc. If the US credit system starts becoming more like the latter, then yes, that's cause for concern. But so far its problems are of a very different scale than a social credit system.
ryanwaggoner 8y ago
Give me a break. You don’t need good credit for the vast majority of jobs.
exolymph 8y ago
> Hell youre poor, forget credit you can’t even open a bank account, go apply for a minimum wage job, then head to the check cashing/cash advance store. How do you think bank accounts, minimum wage jobs, or check-cashing places work? Do you think they check your credit before you can access them? Some jobs do, sure, but not all, and you can absolutely deposit money or cash a check without having established credit.

Just_Smith 8y ago

I'm a bit surprised that people in this thread don't seem to understand the parallels between social and economic status. It's not some grand revelation either - it's pretty much common knowledge. There's obviously a distinct difference between these two systems, but to say "China's social credit system has nothing in common with America's financial credit system" is pretty ignorant to how important having good credit is to being successful in America.

will_brown 8y ago
And I tried to acknowledge the difference in my original post, by saying it’s “just a different way to skin the cat.” But that’s why I added the edit, because I had to acknowledge people in the US love the credit system like people in China will love the social credit system. That’s unfortunately probably the most important parallel the people welcome the systems.
- Just_Smith 8y ago
  I agree - so long as financial credit comes with perks, people are going to be apologists for its flaws. Now that I work in software, keeping good credit is a non-issue. However, when I was making less than $10k/yr, it was the bane of my existence.
lifeformed 8y ago
Yes they're related, but think of the differences: US credit score = 35% payment history + 30% debt burden + 15% credit history + 10% credit types + 10% recent credit searches. Used for lending, and sometimes for leasing and employment. Social credit system = a black box of metrics that can change at any time, relating to your speech, browsing history, political ideas, entertainment choices, shopping history, dating behavior, etc. Used to limit options in travel, education, dating, purchasing, internet speed, etc. If the US credit system starts becoming more like the latter, then yes, that's cause for concern. But so far its problems are of a very different scale than a social credit system.

ryanwaggoner 8y ago

Give me a break. You don’t need good credit for the vast majority of jobs.

exolymph 8y ago

> Hell youre poor, forget credit you can’t even open a bank account, go apply for a minimum wage job, then head to the check cashing/cash advance store. How do you think bank accounts, minimum wage jobs, or check-cashing places work? Do you think they check your credit before you can access them? Some jobs do, sure, but not all, and you can absolutely deposit money or cash a check without having established credit.