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What's interesting here is that normally BNPL only does a soft check. I wonder if this is going to change. Equally, I find it weird that companies can ding yo
by OptionOfT 1y ago
What's interesting here is that normally BNPL only does a soft check.
I wonder if this is going to change.
Equally, I find it weird that companies can ding your credit for not paying but have no obligation to report on-time payments. It should be both or none.
- hopelite 1y agoTechnically it is largely already built in as an assumption that payments are made on time. You also don’t lend to a friend you will not be paid back by, will you? The credit score reduction is merely a diversion from norm, i.e., the expectation that you pay what you agree you owe. Ironically, there is actually zero reward for being a reliable person, there is only a punishment for being an unreliable person; and with all the money printing, even the punishment for being an unreliable person has been almost totally removed and being reliable and upstanding is effectively a punishment since you don’t get to live like a king on a shoe string and then declare bankruptcy and have credit extended to you immediately afterwards because money is cheapened and consequences are void.
- DrillShopper 1y ago> You also don’t lend to a friend you will not be paid back by, will you? I don't lend to friends and family. It's not worth losing those bonds over. I'll help financially where I can, and I'm not going to stop anyone paying me back, but I'm assuming that money is just gone. Completely different calculus compared to credit.