FICO to incorporate buy-now-pay-later loans into credit scores

Re:FICO to incorporate buy-now-pay-later loans into credit s... by vintermann on Tuesday June 24, 2025 @05:39AM (#44364364)

Yes. And that doesn't have to be an addict family member or a burglar, it can easily be e.g. a landlord who sees that you have more money, and charges you more money. There are a lot of people in a position to make you give up what you have, if they see that there's money to be squeezed.

This is even more true collectively: as an individual, maybe you can get out by being 50% more frugal than the rest. But everyone can't be 50% more frugal than the rest. If everyone tries, it's even more likely that larger society claws it back through higher rents, lower wages etc.

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Re:FICO to incorporate buy-now-pay-later loans into credit s... by barchar on Tuesday June 24, 2025 @10:30AM (#44366681)

Everyone can't be 50% more frugal than everyone else, but it's possible for "everyone else" to be something other than 3-4% (the current US savings rate).

The money to sustain a high savings rate without a collapse in wages/demand ultimately comes from the government deficit, or deflation I suppose. This can be sustained even without productive real investment, if people just want savings the money will just sit around or repay debt without bidding anything up in the economy.

> landlord who sees that you have more money, and charges you more money.

You were getting a good deal then. Can happen with "affordable" housing I suppose.

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