Because there are standard metrics for where the score comes from. Each of the big three has slightly different weighting, but it all broadly comes out the same.
The numbers aren’t made up. You can look at your credit report and see what is affecting it.
Yep it’s not a mystery at all if you care enough to read about it. All these “capitalist dystopia” complainers sound like what I probably thought about credit scores when I was in my early 20s and had terrible credit from being irresponsible with credit cards. My credit score is 800 now because I simply pay my bills on time and have an established history of doing so.
Yeah, it’s not a perfect system and I would welcome increased federal oversight and greater transparency because it does have the potential for abuse.
That said, it’s not numbers made up to keep the little guy down. Lenders want to lend money because they make money off it. The whole point is to determine whether or not you’re a safe investment.
We could have a discussion on the merits of modern usury, which can be deeply predatory and abusive. It’s not the credit score that’s the problem.
The numbers are made up, unless you can actually prove your original statement.
Edit: oh, and since proving a negative is essentially impossible, you can’t actually prove your original statement, so I would recommend not making statements like that, and try to rephrase.
Because there are standard metrics for where the score comes from. Each of the big three has slightly different weighting, but it all broadly comes out the same.
The numbers aren’t made up. You can look at your credit report and see what is affecting it.
Yep it’s not a mystery at all if you care enough to read about it. All these “capitalist dystopia” complainers sound like what I probably thought about credit scores when I was in my early 20s and had terrible credit from being irresponsible with credit cards. My credit score is 800 now because I simply pay my bills on time and have an established history of doing so.
Yeah, it’s not a perfect system and I would welcome increased federal oversight and greater transparency because it does have the potential for abuse.
That said, it’s not numbers made up to keep the little guy down. Lenders want to lend money because they make money off it. The whole point is to determine whether or not you’re a safe investment.
We could have a discussion on the merits of modern usury, which can be deeply predatory and abusive. It’s not the credit score that’s the problem.
The numbers are made up, unless you can actually prove your original statement.
Edit: oh, and since proving a negative is essentially impossible, you can’t actually prove your original statement, so I would recommend not making statements like that, and try to rephrase.
You think the people that scream about credit scores have ever looked at and analyzed their credit report lol