Tell ya what, I got a plan! We go back to the way it was before credit scores. If you’re white, socially acceptable, know your banker and are a deacon in your church, you’re approved!
“nOt LikE thAT!”
Children: I don’t understand how this works so it’s unfair!
I’m not the person you asked but there aren’t credit scores where I live (Netherlands).
First of all when you take a loan it’s officially registered with the Bureau of credit registration. Yes paying of a loan nicely will still help but not having any loans at all is usually better. If you already have a loan you can’t loan as much money. So there’s some kind of system but generally loaning as little ad possible is much better. There’s no score though, just positive and negative registrations. Every loan above 250€ is registered. This includes stuff like a phone subscription with included phone.
Besides that if you want loan the lender will ask for income and expenses.
Also almost nobody ever uses credit cards. We all just use debit cards. So you can’t spend what you don’t have.
Tell ya what, I got a plan! We go back to the way it was before credit scores. If you’re white, socially acceptable, know your banker and are a deacon in your church, you’re approved!
“nOt LikE thAT!”
Children: I don’t understand how this works so it’s unfair!
Just because the old system was worse does not mean we can’t have better than the current system.
Normal countries don’t have credit scores. It’s once again a US-only problem.
Lmao what? I’m from a third world country and credit score is a thing here.
USA?
DAE that USA iz a third world country. I iz a geneus.
🤦♂️
Come live in an actual third world country, live the way average citizen in that country live, and you’ll be yearning to be in USA instead by week 2.
Fuck this dumb circlejerk.
Wait… Seriously?
I knew it was ridiculous (literally two companies who assign you a numeric value in an arbitrary range and refuse to elaborate why)
But I never considered other places not having some version of this, probably run by the government (or are just using ours)
Can you walk me through how getting a loan works? Let’s say a home loan, what would they ask and what decides the terms you get?
I’m not the person you asked but there aren’t credit scores where I live (Netherlands).
First of all when you take a loan it’s officially registered with the Bureau of credit registration. Yes paying of a loan nicely will still help but not having any loans at all is usually better. If you already have a loan you can’t loan as much money. So there’s some kind of system but generally loaning as little ad possible is much better. There’s no score though, just positive and negative registrations. Every loan above 250€ is registered. This includes stuff like a phone subscription with included phone.
Besides that if you want loan the lender will ask for income and expenses.
Also almost nobody ever uses credit cards. We all just use debit cards. So you can’t spend what you don’t have.