Credit score in the United States - Wikipedia
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I always assumed credit scores were an integral and historic part of the American financial system.

They were not, they are very recent，most of your parents didn’t have credit scores growing up, and as you can probably tell or at least intuit, it’s mostly just a b******* scheme for those with capital to accrue more capital by invading your privacy.

  • SirQuackTheDuck@lemmy.worldEnglish
    1·
    4 months ago

    creditors would do their due diligence and try to assert that you would be able to pay back your loans by doing many of the same things they do now.

    In the Netherlands this would boil down to:

    • proof of employment (pay check and statement from your boss)
    • summary of outstanding debts

    That’s it. The BKR system only tells you any outstanding debts (such as a car or phone to pay off) or if you stil owe significant money to debtors. It doesn’t tell you how long you’ve been a good citizen.