@Opus 17 wrote:
I suppose you could only patronize lenders that don't use credit scores, if you can find one. Otherwise, they seem likely to remain with us indefinitely, or until someone invents something better.
My point is not to avoid dealing with people who use credit scores or to make people stop using them. I'm saying they're not aligned with the interests of the people being scored. They're a measure of if the bank would like to sell products to that person. My problem is the claim that it matters in itself to the individual being scored.
@Opus 17 wrote:
And?
Build wealth. Live life. Part of that is consistent with "building a credit score". If you purposely don't pay people as agreed, it's not only immoral but as you build wealth the people you owe will rightly sue you to get what they're owed.
Things like how long you stay at one address and how many accounts you have open are things that matter to banks, but not their customers. Generally borrowing money that requires a high credit score is a bad thing because it means the debt is not well collateralized so the lender is depending on the borrowers character and capacity to pay from her earnings. This is not consistent with building wealth.
