this post was submitted on 23 Oct 2023
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It really is crazy to look at someone's financial history to figure out how much money to lend them and at what rate..and whether they have any income to pay it back, fucking fascists!!!
Your credit score actually goes down when you pay off and close accounts. Which would indicate you're very financially responsible and will pay your debts off.
The reason is because a credit score is not about whether you will pay your debts and are financially responsible. It's actually configured to be a score of how much money a lender can make from you. If they can't profit from you, they don't want to lend to you. So the score goes down.
If it was a score of financially reliable and stable you are, then it would be much more welcomed.
At some level, its just another aspect of the surveillance state.
"Oh, you want to buy a car? Show me your credit card statements. Show me every place you've ever lived. Tell me the name of your spouse, so I can interrogate that person as well."
I might not even call it fascist, per say. Its more feudal. Some aristocrat demanding your life story before he lets you onto his fields to work a plow.
And all because these necessities of life are so expensive that nobody can just pay cash in hand for them anymore.