3 ms·
It was explained to me like this: the credit score is not a credit score in the sense you might imagine. It doesn't track your likelihood to repay. It's a score
by api 4y ago
It was explained to me like this: the credit score is not a credit score in the sense you might imagine. It doesn't track your likelihood to repay. It's a score indicating your likely aggregate profitability to banks as a borrower.
- Broken_Hippo 4y agoThat does make sense, though it makes it that much more of a horror that places are using it to determine whether or not you'll make a good employee or a good renter. "You won't make money for the bank, so pay more for insurance and don't rent here". Those places definitely use it differently than the folks providing the scores.