Credit scores for individuals are only as old as Taylor Swift!
They need to go, as they do nothing to actually help those at the bottom trying to survive!
I honestly think credit should be abolished too. Look at the actual cost of something & put a strict limit on what the mark up can be. Provide universal healthcare that we all pay taxes for and that would improve the entire world.
There are tens of thousands of houses that aren't even being used that sit vacant. Pass a law that says if you leave a house vacant for 1 year or more, ownership reverts to the municipality who fixes it up & sells it to members of the community. Housing shouldn't cost 6 figures in the first place.
okay, so you're more advocating ending the need for credit rather than actually banning it. I think your proposals are unrealistic, but what you're saying does follow itself logically
In a vacuum I can see where this comes from (even if I personally like the concept and want to keep it). In reality, such a change would *ABSOLUTELY* be wielded by the rich as a weapon against us - "Abolishing credit" quickly leads to abolishing us owning property, owning a business, etc.
After we revolt we will undoubtedly have such a vacuum. Most Americans are fed up with both parties & soon we'll have another chance to "begin the world over again". At that point we can remake the United States into the nation it SHOULD have been with equal justice for ALL, not just the rich.
War is likely. When it's over & we've won, they won't own us anymore - regardless of how much money they have. We need to implement a MAXIMUM wage, force companies to pay a livable wage based on reality and set maximum prices for homes and other necessities of life.
Honestly, it depends on how it's abolished, who sets the rules for its abolishment, and why. If it's the elites doing it to placate us so we don't unalive a bunch of them, 50/50. If we're the ones to set the rules after seizing power back, possibly violently, then 90/10 no/yes.
You think anyone who’s barely scraping by cares about the constitutional crisis we are facing? Of course they don’t.
This is what pisses me off about the left sometimes. We get so fucking caught up in what we think is most important that we ignore other issues.
People who are scraping by are the exact people who need to be worried about the constitutional crisis! A lot of scraping by people voted for the idiot!
Actually that happened because they were being predatory about it, purposely giving people bad (too high) of rates so they could get partial payments on homes, get the homes from people who couldn't keep up, and then sell the homes to other people. The problem was that corporations got into the...
Right, and so if we DON'T EVEN LOOK AT PEOPLE'S CREDIT ANYMORE, then their ability to pay will not be a factor in granting mortgages. Nobody will be denied because they can't pay.
I'm saying the ultimate problem wasn't the victims. You're blaming the victims. The ultimate problem was predatory practices. How the fuck do you think we never had such a crisis before the 80s? Credit scores are only in their late 30s to mid 40s. They didn't exist before then!
True. You can have a high score; but if you stay OUT of debt, the banks lower your score and/or cancel your card. They will also lower your credit limit if you don’t max out the card. All cards have high interest rates, why would I want to be in debt if I can avoid it? They need us in debt.
Yeah, me too. I’ve been trying to get to excellent for the last five years. I noticed that my score goes up when I have a balance and down when I pay it off.
Back when we got a construction loan for this house, the woman at the bank said our scores were the highest she'd seen. 800+ for both of us. We had a lot of positive history at that time. We've since paid off everything and our score went down a little bc over time the history drops off. But I
I’d be fine with them if you only needed them to finance luxury items. The problem arises when you need a good credit score to have a roof over your head and get a good job. Capitalism and credit is for shit we don’t need to survive.
It's partly a method of control over the common people. The elites don't have credit scores because they either buy stuff outright or get it gifted to them cuz they're using it is advertisement. Remember, Steven Colbert was able to get an iPad cuz he did a grimlinish "give me an iPad!" on his show.
As someone who has a bad credit score just because I have no credit history, I 100% agree. I shouldn't have to owe money to people for 20 years just to prove I can be trusted to pay back money loaned to me. I'm already putting my house on the line.
Credit feels like a fork of social control. It’s also a waste of time, quite frankly. People were no worse off in history due to not having credit scores.
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Wouldn't give him the time of day, the finger yes.
They need to go, as they do nothing to actually help those at the bottom trying to survive!
This is what pisses me off about the left sometimes. We get so fucking caught up in what we think is most important that we ignore other issues.
Capitalism is a disease that only favors the rich.
No problem with my credit card. I've never paid a penny of cc interest or fees.
I pay it off every month and get cash back from them. 🤷♀️
Our scores are still high enough that we could still get a loan if we had to.
Yes, generally the system wants you in debt but ideally, a perfect balance of debt.