> On the other hand, I get why a credit score can be useful for larger purchase decisions. If I was a bank, I'd like to know if the person I'm lending 400k for

> On the other hand, I get why a credit score can be useful for larger purchase decisions. If I was a bank, I'd like to know if the person I'm lending 400k for a property, has in the past defaulted on any loans. The amazing thing of living in the modern connected world is that we have all sorts of information available easily. We can use what other countries are doing as inspiration, or as learnings what not to do. The problem you're describing has been solved for decades in tens of countries around the world, there's no point in reinventing the wheel. In France what the bank does is ask the national bank about the person's credit history, which will only contain current and past loans, lapses in repayments, being sent to collections, etc. So only stuff that is actually relevant to the question "has this person defaulted on loans previously and are they thus a risk of defaulting again", which together with the information about current revenues is all they need.