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My guess is a lot of it is "Credit Score By Proxy": you could pay one of the US' three Credit Score Bureaus directly, all of whom charge for the service about a
by WorldMaker 4y ago
My guess is a lot of it is "Credit Score By Proxy": you could pay one of the US' three Credit Score Bureaus directly, all of whom charge for the service about as much as they think they can get away with when you ask for a contract and all of whom have reasons not to trust direct relationships with them. Or you could check that the person has a credit card with any limit above $0 implying some bank is already subscribed to the credit reports on you and still chooses to be in a relationship with you.
- JimmyAustin 4y agoThis doesn't really track for credit scores in particular, thanks to debit cards, but the overall idea of "checking if able to establish a relationship with a financial institution and all the KYC that comes with it" is a good one.
- WorldMaker 4y agoI've seen some of these checks require credit cards (the networks will tell you if the card you are checking the authorization on is debit or credit). Requiring a credit would seem to imply an interest in some indirect value of a credit report. It could also just be a way to avoid people using some of the prepaid debit cards you can buy in drug stores, of course, but I think that's still somewhat related to concept of "has credit reportable relationship with a bank".