Credit scores explained

[eerohughes]

If you get a loan and don't pay it back and then go back to get another loan and are surprised that it's much harder and more costly. You absolutely shouldn't be getting a loan.

[charleighh.]

"You Can't Buy or Sell Anything..., " Comes to Mind
This Kinda sounds like a Mark to me.

[CynicalLight]

It called a debt prison and it's so predatory. Yes, I know it's important to pay loans back, but that being besides the point, life happens, emergencies happen and when you come from poverty these are the only places that will talk to you and their interest rates are a joke. One small life hiccup turns into a cycle of debt that usually ends up ruining people's lives. It took over 5 years for my brother to get out of this cycle and all he did was borrow some money to cover rent and hospital bills when he was sick from pneumonia. My family lended and helped where we could, but those collectors couldn't care less if my brother never went to the hospital and died from pneumonia instead of taking their shit loan

[lcxb]

Those credit score algorithms are kept super secret. Are lenders scared people will game them as they've gamed the legal system?

[ohnonotagain]

Just save bunches of cash so you don't owe or have to ask for a loan to get anything you want

[patiencealiu-otokiti]

My credit score is a mess now. How do I boost my credit score?

[nightmathzombieethan]

Oh, you don't make a lot of money? Well I guess we need to make you pay us back MORE for lending the same amount of money to someone wealthier.
So if you have more money, you get to pay back less when you borrow from someone else...
I understand the principle of risk but its all pretty bullshit.

[Hingedmosquito]

This doesn't explain credit scores at all.

[salmonella]

What a great country we live in. Our motto should be “Drop trou and grab ankles”