Die haben halt keine Schufa. Dank Schufa müssen wir keine Kreditkarten haben um uns irgendwann einen Baukredit leisten zu können. Das hat schon seinen Vorteil!
We tend to complain a lot about them. But compared to the US (and I don’t know any other system than US and Germany) it’s far better.
If you don’t take any loans your score gets better and better. If you take out a big loan it is at first negative, but after paying it off it may be even positive.
My mother never took out a load in her life and has almost a perfect score.
In the US you get rewarded for making credit card dept and paying off interest. That is actually a stupid way to handle money.
In Germany you get rewarded if you save first and then spend your money.
The problems lie in the details. If you move to a poor neighbourhood your score drops. That is utterly stupid!
Die haben halt keine Schufa. Dank Schufa müssen wir keine Kreditkarten haben um uns irgendwann einen Baukredit leisten zu können. Das hat schon seinen Vorteil!
Just learned about https://en.wikipedia.org/wiki/Schufa
We tend to complain a lot about them. But compared to the US (and I don’t know any other system than US and Germany) it’s far better.
If you don’t take any loans your score gets better and better. If you take out a big loan it is at first negative, but after paying it off it may be even positive.
My mother never took out a load in her life and has almost a perfect score.
In the US you get rewarded for making credit card dept and paying off interest. That is actually a stupid way to handle money. In Germany you get rewarded if you save first and then spend your money.
The problems lie in the details. If you move to a poor neighbourhood your score drops. That is utterly stupid!