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Ok, in that case why is helping the upper class by giving them reduced fees acceptable? If anything based on your comment you should be in favour of this change
by olliej 4y ago
Ok, in that case why is helping the upper class by giving them reduced fees acceptable? If anything based on your comment you should be in favour of this change as it’s reducing the fee discount received by the upper class, not charging the upper class more than the lower.
- searealist 4y agoIf everyone in the world had a good credit score, do you think rates would go up, go down, or stay the same for a good credit score?
- svnt 4y agoThe data are interesting but I’m not sure they support your point: The average score has risen for the last decade, but the scores also have a fairly strong negative correlation with generation/age. The demographics who will mostly benefit from this are Millennials and Gen Z. https://www.experian.com/blogs/ask-experian/what-is-the-average-credit-score-in-the-u-s/ https://www.experian.com/blogs/ask-experian/what-is-the-aver...
- leereeves 4y agoThe criteria here is credit score, not income or wealth. There are low income people with good credit scores who are going to be charged more because of this change. If the goal is "reducing the fee discount received by the upper class" it should be targeted more accurately.