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.
The score simplified the process for creditors of pre-assessing your risk as a debtor so that they don’t have to put in the work to actually assess your rush a debtor, leading to an irresponsible and imbalanced credit system that you can’t benefit from unless you are born on the right side of the tracks.
I didn’t say the concept was new or crazy.
This is a way for operators of capital to accrue more capital and more easily distance themselves from everybody else, whose information they profit from, rather than creating opportunities.