683
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 20 Aug 2023
683 points (96.7% liked)
Asklemmy
42472 readers
1246 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- [email protected]: a community for finding communities
~Icon~ ~by~ ~@Double_[email protected]~
founded 5 years ago
MODERATORS
Credit scores
Credit scores are at least significantly better than the system that preceded them. On the other hand the system that preceded credit scores was so broken and so racist that pretty much anything would be a significant amount of progress in the right direction
This is the real answer to this question. Not just an invention to unfairly evaluate folks (and charge them originally to see it!), but nothing more than a "how much we can fleece you for" score that has become so widely embraced you can't ignore it.
It clicked with me the other day that store credit cards are an evolution of the original idea of credit, where an individual lender would allow purchases on credit. But now they are pretty much all the same Visa/MasterCard with different company logos and colors.
Visa and mastercard are just middlemen that offer payment processing. They don't actually do the credit itself.
Does this even exist outside of the US?
110%. Same companies keeping record too, like Experian