NZ’s biggest data breach shows retention is the sleeping giant of data security

Re:NZ’s biggest data breach shows retention is the sleeping ... by Lerc on Friday April 07, 2023 @03:52AM (#35479258)

I remember being refused something (although I can't remember what) because my credit record was blank. I bought a bed on hire purchase specifically so I had a financial footprint.

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Re:NZ’s biggest data breach shows retention is the sleeping ... by Khartoum on Friday April 07, 2023 @04:43AM (#35479588)

I'm surprised that a standard "average" credit level can't be used as a starting point, and then every transaction afterwards is a difference against that default starting point.

That is, no evidence in favour nor evidence against you.

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Re:NZ’s biggest data breach shows retention is the sleeping ... by nordsieck on Friday April 07, 2023 @04:47AM (#35479617)

> I'm surprised that a standard "average" credit level can't be used as a starting point, and then every transaction afterwards is a difference against that default starting point.

> That is, no evidence in favour nor evidence against you.

It's because this isn't a court of law. You're trying to convince other people to give you an unsecured loan. The default will never be an assumption of trustworthiness.

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Re:NZ’s biggest data breach shows retention is the sleeping ... by Ensorceled on Friday April 07, 2023 @05:51AM (#35479909)

The default assumption of a blank credit info in 2023 would have to be this person is either very young and probably a risk or a fake identity and certainly a risk. That’s why young people can only get small loans.

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Re:NZ’s biggest data breach shows retention is the sleeping ... by int_19h on Friday April 07, 2023 @05:21AM (#35479785)

In US, the usual way to handle this is to get a credit card backed by a security deposit, and use it to build up credit history.

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