this post was submitted on 25 Jul 2024
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A Boring Dystopia
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"Since I got my first credit card, I used it for all my purchases but paid it in full each month, building a good score — or so I thought. When I went for a car loan, I was denied because I was a 'thin file,' meaning I never paid any interest."
My friend just got denied a mortgage because of this bullshit. Like what the actual fuck!? You're a responsible borrower but you committed the ultimate sin of NOT PAYING THEM INTEREST!
... Like what the fuck?
They want a profitable client. So yeah they basically want you to pay an invisible premium for your credit score. I routinely carry a small balance over and my credit rating is far better than people who pay everything off right away. They want a reliable profit, not a reliable payer, if it makes more sense that way. Think of it like your subscription to credit. It doesn't need to be a large amount either, literally just a couple dollars a month when you math it out.
I'd rather they choke on their own blood thanks.
Yeah, if we're going to have a credit score then we need the government to run it. That kind of cross corporation tool that facilitates commerce is what we used to call a public good.
But we're so deep down the, "must let rich people make themselves richer" hole that we can't even see it.