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A standard US credit score system may seem to be similar, but there are some important differences: - a person has access to their file - there are ways to co
by AlexTWithBeard 6y ago
A standard US credit score system may seem to be similar, but there are some important differences:
- a person has access to their file
- there are ways to correct mistakes on file, should any be found
- scoring algorithm is more or less known
- ardy42 6y ago> A standard US credit score system may seem to be similar, but there are some important differences: Also: - it's limited in scope to financial accounts. The end goal of the Chinese system appears to be to rate you on nearly every aspect of your life, which is quite different.
- chillacy 6y agoIf you look at the history of the US credit system, it used to be about other aspects of like (a bank employee factored in if you went to church, were an alcoholic, etc) and it resulted in low access to credit, especially to minorities. That it eventually became regulated and limited to the financial domain was actually a huge feature of the credit system in America that unlocked a lot of good things. So from the US point of view, a "social credit system" seems backwards in a "been there, tried that" kind of thing.
- HashingtheCode 6y agoSimilar as in tomatoes are to potatoes. As far as i know, even if you have a terrible US credit score, you can still buy a train/plane/bus ticket to travel outside of your city, you can still buy mobile phone contracts, start a business, buy property, send your children to a private school etc etc. The SCS in China will punish the individual by restricting these things. https://www.youtube.com/watch?v=NXyzpMDtpSE https://www.youtube.com/watch?v=NXyzpMDtpSE https://www.youtube.com/watch?v=evBzPwCdeHI https://www.youtube.com/watch?v=evBzPwCdeHI