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Maintaining a really good credit score requires deliberate action and high conscientiousness over a long time. That is just a really strong proxy for success in
by kansface 5y ago
Maintaining a really good credit score requires deliberate action and high conscientiousness over a long time. That is just a really strong proxy for success in life. There are loads of people with bad credit and high income - chronic gamblers, for instance.
- Johnny555 5y agoNo doubt there are high income people with low credit and low income people with high credit. But my point is that it's a lot easier to keep a good credit school on high income than it is on low income. When your cost of necessities for living (food, rent, utilities, etc) is close to your total income, all it takes is a small disruption in your income to cause a cascade of credit lowering events that are hard to dig yourself out of.
- s1artibartfast 5y agoThis is all true, but beside the point. The purpose of credit scores is to predict outcome, not measure the effort or intentions of people to overcome their personal situation.