8 ms·

Credit score can affect employment, I.E. you can't get hired because you are too poor.

by michaelbrave 5y ago

evancox100 5y ago
Or rent an apartment/house in many cases
- yurishimo 5y ago
  While this is true on a very shallow level, most landlords are happy to rent to "high risk" tenants with increased deposits if you talk to them directly instead of taking your initial rejection at face value.
  - throaway46546 5y ago
    More and more rentals are being gobbled up my big corporations. Finding someone to talk to who has the authority to make an exception can be nigh impossible.
    - yurishimo 5y ago
      Eh maybe. I think that largely depends on where you live. Granted, most apartment complexes are falling into that category, but venture out of the city a bit and if you're renting a small 2 bedroom house for $750/mo in Nebraska, it's probably owned by an individual. Worst case scenario, even in a city, you could sublet or get roommates while you rebuild your credit.
      - throaway46546 5y ago
        >I think that largely depends on where you live. I suspect you are right. I walk down my block and every other building is owned by the same slumlord. It is bad.
artificialLimbs 5y ago
Is this actually true, or is it the case that you can't get financial related jobs because your credit score has been lowered by your past cases of poor handling of money?
- aspenmayer 5y ago
  Failure to navigate a capitalist system of hoop-jumping due to lack of funds causes a self-fulfilling prophesy of poor performance at said hoop-jumping and associated poor credit scores. Blaming the victim comes to mind.
  - artificialLimbs 5y ago
    If I only pay my bills on time does my credit score go up in the US? Asking because I don't know, but if that is the case, not sure why you can call it 'hoop jumping'. I don't care for the credit companies, they're total scum. But I'm not sure how to do anything better.
    - mattnewton 5y ago
      Afaict, your credit score will likely be lower if you haven't had a credit card open for a long time, run your balances too close to the limit (available credit) on those cards, or don't use them at all. My understanding is that your bills, depending on their type, may not even bother reporting to the credit agencies, or only report when they believe you have failed to pay; reliable ones seem to be big loans like mortgages, student or auto loans, and then credit cards. Rent, utilities, etc haven't seemed to affect my credit positively (or if they do they haven't been noticeable compared to the first category) When I graduated, rented, and paid all my student loans off early and did not have a credit card my credit score actually went down significantly until I opened credit cards and used them regularly.
      - nitrogen 5y ago
        Average age of accounts is a pretty big factor in credit scores. Every bank will probably have its own proprietary rules for deciding when to offer credit, but the credit reporting agencies who generate a number use fairly well known criteria. Amount of credit, number of accounts, payment history, percentage of credit used, age of accounts, diversity of types of accounts.

Credit score can affect employment, I.E. you can't get hired because you are too poor.

evancox100 5y ago

Or rent an apartment/house in many cases

yurishimo 5y ago
While this is true on a very shallow level, most landlords are happy to rent to "high risk" tenants with increased deposits if you talk to them directly instead of taking your initial rejection at face value.
- throaway46546 5y ago
  More and more rentals are being gobbled up my big corporations. Finding someone to talk to who has the authority to make an exception can be nigh impossible.
  - yurishimo 5y ago
    Eh maybe. I think that largely depends on where you live. Granted, most apartment complexes are falling into that category, but venture out of the city a bit and if you're renting a small 2 bedroom house for $750/mo in Nebraska, it's probably owned by an individual. Worst case scenario, even in a city, you could sublet or get roommates while you rebuild your credit.
    - throaway46546 5y ago
      >I think that largely depends on where you live. I suspect you are right. I walk down my block and every other building is owned by the same slumlord. It is bad.

artificialLimbs 5y ago

Is this actually true, or is it the case that you can't get financial related jobs because your credit score has been lowered by your past cases of poor handling of money?

aspenmayer 5y ago
Failure to navigate a capitalist system of hoop-jumping due to lack of funds causes a self-fulfilling prophesy of poor performance at said hoop-jumping and associated poor credit scores. Blaming the victim comes to mind.
- artificialLimbs 5y ago
  If I only pay my bills on time does my credit score go up in the US? Asking because I don't know, but if that is the case, not sure why you can call it 'hoop jumping'. I don't care for the credit companies, they're total scum. But I'm not sure how to do anything better.
  - mattnewton 5y ago
    Afaict, your credit score will likely be lower if you haven't had a credit card open for a long time, run your balances too close to the limit (available credit) on those cards, or don't use them at all. My understanding is that your bills, depending on their type, may not even bother reporting to the credit agencies, or only report when they believe you have failed to pay; reliable ones seem to be big loans like mortgages, student or auto loans, and then credit cards. Rent, utilities, etc haven't seemed to affect my credit positively (or if they do they haven't been noticeable compared to the first category) When I graduated, rented, and paid all my student loans off early and did not have a credit card my credit score actually went down significantly until I opened credit cards and used them regularly.
    - nitrogen 5y ago
      Average age of accounts is a pretty big factor in credit scores. Every bank will probably have its own proprietary rules for deciding when to offer credit, but the credit reporting agencies who generate a number use fairly well known criteria. Amount of credit, number of accounts, payment history, percentage of credit used, age of accounts, diversity of types of accounts.