Re:Musk announces funding secured for Twitter buy
by bmitc on Thursday April 21, 2022 @11:35PM
(#31117895)
The credit score system is really about incentivizing you to get, use, and keep credit cards, including retail credit cards, and loans, i.e. take on debt.
The fact that so many things require a high credit score is a forcing function for you to take on these debt instruments, and the credit score is a way for the system to optimize that it get its money.
The entire system is gamed against the consumers unwittingly or unwillingly forced to participate.
Re:Musk announces funding secured for Twitter buy
by HWR_14 on Friday April 22, 2022 @01:50AM
(#31118614)
Your credit score is higher if you pay off your credit card in full every month. Although, yes, it does reward having multiple cards with a high limit.
The fact that so many things require a high credit score is a forcing function for you to take on these debt instruments, and the credit score is a way for the system to optimize that it get its money.
The entire system is gamed against the consumers unwittingly or unwillingly forced to participate.