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submitted 9 months ago by Varyk@sh.itjust.works to c/til@lemmy.world

I always assumed credit scores were an integral and historic part of the American financial system.

They were not, they are very recent,most of your parents didn't have credit scores growing up, and as you can probably tell or at least intuit, it's mostly just a b******* scheme for those with capital to accrue more capital by invading your privacy.

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[-] Seraph@kbin.social 15 points 9 months ago

While true, don't let perfect be the enemy of the good.

[-] MotoAsh@lemmy.world 8 points 9 months ago* (last edited 9 months ago)

Yes, and I'm only making the opposite counter-point: Don't stop doing a good thing, like fixing broken systems.

I love it how everyone enjoys pointing out the negative interpretation when it's in response to something that makes it utterly clear I mean the positive interpretation.

You may as well be saying, "if it ain't broke, don't fix it", which I'm sure is not what you mean, but that's exactly what responding with a counter-view implies at this point.

[-] Dozzi92@lemmy.world 1 points 9 months ago

How can it be improved further. If you're going to say stuff, give us a "such as," otherwise it comes off as a negative, it's not good enough. Gotta be constructive with the criticism. I'm reading a lot of negative reactions and I want some actual rationale for it, because I guess I'm uneducated on the topic and I fail to see what the issue is. Credit is people giving you money. There's a system that keeps track of your credit history. Don't want it? Don't get credit, that's it. Have 0 credit and then reap the rewards of that if you want.

[-] clearleaf@lemmy.world 1 points 9 months ago

Such as if you've been paying rent for years you should be allowed to pay an equal amount for a home you may actually own one day. That's my main one.

[-] Dozzi92@lemmy.world 2 points 9 months ago

I don't understand what you mean or how that relates at all. And I'm not trying to be obtuse, I just don't see a rational nexus between what you're paying in rent now versus what you may pay as a mortgage on some completely different piece of property. Owning a piece of property and renting one are two different things.

Now, should paying rent be reflected on your credit score? I believe so, for better and for worse. If you are a good tenant, always pay rent on time, to me that reflects well on your fiscal health. I think the only reason it's not is because who is there to report it? Only way it would be is if you could put it on your credit card, and I'm not sure any landlords take credit cards.

this post was submitted on 21 Feb 2024
603 points (97.3% liked)

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