Just like Reddit, PieFed keeps track of how many upvotes and downvotes your posts receive and the net value of all the votes received is called your “reputation” (Reddit calls it “karma”). This is not shown in the UI anywhere (except to administrators), to dissuade the karma-farming behavior common on Reddit. Reputation is not a […]
Oh, I forgot credit score exists in other countries since we don’t have it here.
But isn’t that system quite straightforward and justified? I mean, if you want to take out a loan, imo the bank is justified in wanting to know how likely you are to pay it back, and refuse giving it out if they aren’t convinced you’ll be able to repay it. Though I didn’t know you can increase your score by getting more cards, so maybe the system is less straightforward than I’m aware. Sounds very capitalistic to me, like the goal is for you to throw away more money at companies instead of paying back your debts.
The US credit score system incentivizes you to take on more debt than you can afford and to never fully pay off your debt. To be fair, the entire US economy is based on debt.
It’s not just that. It affects what kind of living spaces you can rent, what your access to essential services will be like (postpaid plans for mobile phones, for example), even employment eligibility in some cases, among surely many other cases that aren’t top of mind at the moment.
I thought this actually sounded reasonable, until I got to employment.
Like, both of the ones before might not be about loans directly, but they’re about whether you’ll be able to pay your bills. It makes sense for the companies to change their offer if they don’t believe you’ll be able to pay them. Rent and postpaid plans are both about getting something now and paying for it later, so it imo makes sense that they first evaluate whether you’re likely able to do so.
Some businesses and industries consider it equivalent to “trustworthiness” and they are afraid that you will steal from them or betray them somehow if you have low credit score. Whether there’s any truth to that is irrelevant, that is how they feel about it. Most of the time they are not allowed to say that directly, but in most states it is entirely the employer’s decision whether or not to hire you with little to no regulation or labor market protections and they never have to tell anyone why or why not, so even if you felt like it might have been discrimination it’s essentially unenforceable.
The US credit system affects everything, regardless of what you can get some dumbass US conservative to tell you.
It’s checked EVERYWHERE you’re not simply handing cash (or cash equivalent like a check that doesn’t bounce) over. Car purchases, house rentals, employment, loans, even car or hotel rentals! It’s EVERYWHERE, yet dumbass US citizens only throw shade at China…
We’re already a captured, brainless society, and that’s before Trump… The next generation is truly fucked, and that’s without the migration/water/food wars that WILL happen…
Oh, I forgot credit score exists in other countries since we don’t have it here.
But isn’t that system quite straightforward and justified? I mean, if you want to take out a loan, imo the bank is justified in wanting to know how likely you are to pay it back, and refuse giving it out if they aren’t convinced you’ll be able to repay it. Though I didn’t know you can increase your score by getting more cards, so maybe the system is less straightforward than I’m aware. Sounds very capitalistic to me, like the goal is for you to throw away more money at companies instead of paying back your debts.
The US credit score system incentivizes you to take on more debt than you can afford and to never fully pay off your debt. To be fair, the entire US economy is based on debt.
Nearly all advanced/wealthy economies are.
What kind of debt matters. Kind of like good vs bad lipids in your bloodstream or beneficial vs parasitic bacteria in your gut.
It’s not just that. It affects what kind of living spaces you can rent, what your access to essential services will be like (postpaid plans for mobile phones, for example), even employment eligibility in some cases, among surely many other cases that aren’t top of mind at the moment.
I thought this actually sounded reasonable, until I got to employment.
Like, both of the ones before might not be about loans directly, but they’re about whether you’ll be able to pay your bills. It makes sense for the companies to change their offer if they don’t believe you’ll be able to pay them. Rent and postpaid plans are both about getting something now and paying for it later, so it imo makes sense that they first evaluate whether you’re likely able to do so.
But I don’t see how that applies to employment…
Some businesses and industries consider it equivalent to “trustworthiness” and they are afraid that you will steal from them or betray them somehow if you have low credit score. Whether there’s any truth to that is irrelevant, that is how they feel about it. Most of the time they are not allowed to say that directly, but in most states it is entirely the employer’s decision whether or not to hire you with little to no regulation or labor market protections and they never have to tell anyone why or why not, so even if you felt like it might have been discrimination it’s essentially unenforceable.
The US credit system affects everything, regardless of what you can get some dumbass US conservative to tell you.
It’s checked EVERYWHERE you’re not simply handing cash (or cash equivalent like a check that doesn’t bounce) over. Car purchases, house rentals, employment, loans, even car or hotel rentals! It’s EVERYWHERE, yet dumbass US citizens only throw shade at China…
We’re already a captured, brainless society, and that’s before Trump… The next generation is truly fucked, and that’s without the migration/water/food wars that WILL happen…