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Not sure which "concept of credit score" you might be referring to, but in Germany, there's Schufa (among others). They calculate a credit score using secret fo
by fuzzy2 5y ago
Not sure which "concept of credit score" you might be referring to, but in Germany, there's Schufa (among others). They calculate a credit score using secret formulas.
So I'd say it's pretty much the same.
- anyfoo 5y agoI don't think it is, at least it always seemed to me that if you take up no credit, Schufa won't be a problem. While when I moved to the US, I had to open credit lines to build "history". Then again, I don't know what fully goes on with Schufa, so maybe it just wasn't a problem for me. But then what would be the problem without "history"? Had I built a house or bought an apartment, I am very sure they'd primarily look at your income. And the one time I had took a "Bildungskredit" because I was financing my university time myself, my non-existing Schufa records did not come up either. Correct me if I'm wrong, but it much rather seemed like a "bad payer" register to me (as a cousin comment just called it for Denmark).
- fuzzy2 5y agoHm, yes, missing history isn't as bad, I guess that's true. However, Schufa isn't exclusively about credit. It records all kinds of information like your address, your phone/mobile plans, all your bank accounts. Credit requests (where you get a quote and then not follow through), too. It's definitely not a bad payer register.