3 ms·

> a personal loan for an education Which is another thing we don't do over here in the EU. Perhaps what's left doesn't necessitate a full-blown credit score s

• mrguyorama 2y ago
  Large banks were unwilling to loan $20k to me for a used car, even though I had $60k in cash in the bank and a $70k a year job I had for over 5 years, and no history of debt, because Transunion said I had no credit history. So instead a local credit union got a free $1500 for servicing that loan. A loan that I explicitly only took to "build credit" ie, pay a bank profit so they would vouch for me, which is what a credit score is designed to show, how much profit you give to banks and credit card companies for financing. They don't want to loan out money that might be less profitable than a loan to someone who has paid a thousand credit card payments. The credit union then proceeded to Not report my loan to the credit agencies! meaning I still have no credit. Awesome.