Nuts, especially as the perfect system is easy: credit score starts at 100% and only ever drops due to late/default payment of debt. Drops should be temporary in the absence of continued delinquency
I may be wrong, but I think the US is the only country (at least in our peer nation group) that uses credit scores the way we do: rental worthiness, home, auto, school loans, & credit card limits.
They also go down when you rent an apartment or even if you have a certain amount on your credit card. They either need to be abolished or revised entirely because the way they are now makes no damn sense for the modern age and only serve to hurt the people of the current age.
Last year I decided to pay off my credit card. They kept dropping my credit score. I bought for forty bucks of stuff and it went back up. I was like wtf? They actually want us to owe them money
When you kease a car, they drop your score. Next time you lease a car, they raise your interest rate and drop your score. 3rd lease, raise payment, raise interest, drop credit score. All from one dealer, even if you have no other debt.
It racketeering and extortion. Credit reporting agencies also get mass hacked more frequently than is publicized. They need to be shut down and written out of history -like 'health care' insurance and some other top businesses that've shaped modern America.
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Debt is a vicious cycle.
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