6 ms·

That's not true. FICO rates affect where you're allowed to live, what kind of modes of transportation you're allowed to have (many insurers take it into account

That's not true. FICO rates affect where you're allowed to live, what kind of modes of transportation you're allowed to have (many insurers take it into account to decide whether or not to provide coverage), even some health procedures (many dental practices now check credit score), etc...

mch82 4y ago
Can you recommend a reference for this? Was trying to explain why credit is important to someone who doesn’t want a credit card.
- sudosysgen 4y ago
  https://borrowell.com/blog/what-credit-score-do-you-need-to-rent-an-apartment https://borrowell.com/blog/what-credit-score-do-you-need-to-... https://content.naic.org/cipr-topics/credit-based-insurance-scores https://content.naic.org/cipr-topics/credit-based-insurance-... https://www.vincentjnardone.com/healthcare-blog/2015/02/necessary-pull-patients-credit-reports/ https://www.vincentjnardone.com/healthcare-blog/2015/02/nece...
refurb 4y ago
But only in the sense of financial risk. That doesn't seem unreasonable to me that people who are entering some sort of financial contract with you have the ability to easy see your credit history. But again, just don't use credit (or use it minimally) and you're good.
- salawat 4y ago
  >That doesn't seem unreasonable to me that people who are entering some sort of financial contract with you have the ability to easy see your credit history. ...Do keep in mind that the progenitors of Equifax and the other Credit Bureaus were private investigators most frequently hired by the well heeled in order to "gauge trustworthyness", which takes many forms... Including Union busting, and building blacklists.
- sudosysgen 4y ago
  It's not really about financial risk. It's about trust. The FICO score is being used as a proxy for trust, which is problematic. If you don't use credit or use it minimally your credit score will begin to fall.
  - refurb 4y ago
    The federal government uses credit reports for security checks. Maybe start with them?

mch82 4y ago

Can you recommend a reference for this? Was trying to explain why credit is important to someone who doesn’t want a credit card.

sudosysgen 4y ago
https://borrowell.com/blog/what-credit-score-do-you-need-to-rent-an-apartment https://borrowell.com/blog/what-credit-score-do-you-need-to-... https://content.naic.org/cipr-topics/credit-based-insurance-scores https://content.naic.org/cipr-topics/credit-based-insurance-... https://www.vincentjnardone.com/healthcare-blog/2015/02/necessary-pull-patients-credit-reports/ https://www.vincentjnardone.com/healthcare-blog/2015/02/nece...

refurb 4y ago

But only in the sense of financial risk. That doesn't seem unreasonable to me that people who are entering some sort of financial contract with you have the ability to easy see your credit history. But again, just don't use credit (or use it minimally) and you're good.

salawat 4y ago
>That doesn't seem unreasonable to me that people who are entering some sort of financial contract with you have the ability to easy see your credit history. ...Do keep in mind that the progenitors of Equifax and the other Credit Bureaus were private investigators most frequently hired by the well heeled in order to "gauge trustworthyness", which takes many forms... Including Union busting, and building blacklists.
sudosysgen 4y ago
It's not really about financial risk. It's about trust. The FICO score is being used as a proxy for trust, which is problematic. If you don't use credit or use it minimally your credit score will begin to fall.
- refurb 4y ago
  The federal government uses credit reports for security checks. Maybe start with them?