Counter argument–having bad credit is also meaningless if you can never afford to purchase something like a house, and you’re ok with purchasing used vehicles and renting from smaller landlords and not property management companies.
In my state all the lenders came to the legislature several years back and make a big push to try and come up with a new type of credit score that was primarily based on driving history. Apparently, driving history is like a way more accurate predictor of your credit worthiness than your financial history. So I guess my point is that they will scrape data anyway then can get it and use it to judge how much you have to pay to access money.
Counter argument–having bad credit is also meaningless if you can never afford to purchase something like a house, and you’re ok with purchasing used vehicles and renting from smaller landlords and not property management companies.
Credit is a fucking scam to begin with. It’s insane what companies like Equifax have gotten away with.
Wholeheartedly agree. And then we go around panicking about the authoritarian social credit shit China has. Mfer we’ve have social credit for decades
In my state all the lenders came to the legislature several years back and make a big push to try and come up with a new type of credit score that was primarily based on driving history. Apparently, driving history is like a way more accurate predictor of your credit worthiness than your financial history. So I guess my point is that they will scrape data anyway then can get it and use it to judge how much you have to pay to access money.
It’s a far less bad scam than the previous version of be a white guy that’s friends with the local bank.