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What are these better solutions? The bureaus exist because companies can only quote you loan products if they have a good [enough] understanding of how responsi
by judge2020 3y ago
What are these better solutions? The bureaus exist because companies can only quote you loan products if they have a good [enough] understanding of how responsible you are with debt and paying existing creditors. You could make arguments about some pitfalls with the score, but any other creditworthiness system will need a lot of data if lenders want to be able to trust it to provide insight to your monthly debts and payment history.
- 317070 3y agoMany European countries do not have a credit score system. Companies and banks are a lot less inclined to give you credit, but I don't see how that is a bad thing for society?
- tagyro 3y agoGermany enters the scene. There was a recent article about Schufa - https://news.ycombinator.com/item?id=39395329 https://news.ycombinator.com/item?id=39395329.