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There are actually very few regulations regarding the credit score "system" -- if it can even be called that -- and it shows. The system is grossly abused by ev
by bryans 4y ago
There are actually very few regulations regarding the credit score "system" -- if it can even be called that -- and it shows. The system is grossly abused by everyone involved, and typically the only people experiencing the effects of that abuse are already in the most vulnerable positions. It's quite reprehensible what humans are willing to do to each other over an unpaid bill, almost universally representing a completely non-relevant amount of revenue for the companies. How many lives have been disrupted or ruined over sending $15 to collections?
- bluedino 4y agoYou never opened a single account other than that? You in essence have no credit, then.
- deleted 4y ago[deleted]
- kube-system 4y agoBecause it's just math applied to the highly regulated credit history system. The way that the score is calculated is inconsequential, as long as the underlying credit history is correct.
- pessimizer 4y agoIt was a prelude to the modern private surveillance industry. Virtually any legislation affecting that would effect the credit rating agencies.