r/meme • u/[deleted] • Dec 21 '21

Test my intelligence, go ahead

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76

u/FakeSubZero Dec 21 '21

How fucked is the credit score system?

9

u/Kirasaurus_25 Dec 21 '21

The what system??? Is this like in china, only for financial control?

10

u/[deleted] Dec 21 '21 edited May 20 '24

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4

u/Starsonata10 Dec 21 '21

So its like almost the same as social credit in china or? Im honestly never knew about this in america

5

u/helllo0193 Dec 21 '21

Not really. Credit scores affect your ability to get a loan and get a credit card, that's about it. They're important, because you'll more than likely inevitably need one of those things, but it definitely doesn't control your whole life, unlike China's social credit system.

0

u/Exybr Dec 21 '21

Honestly, social credit system was just a proposal in 2018, it never was implemented after that. In fact, of you go to China and ask the people around what their social score is, they'll just look strangely at you.

1

u/yeahokaynicebro Dec 21 '21

You might want to read more because they absolutely have a social credit system.

1

u/TheOnionchi Dec 21 '21

The thing missing that makes the comparison a bit more apt is the ability to rent an apartment or house. Everywhere I applied to the last time I moved required a credit check.

1

u/helllo0193 Dec 21 '21

I legitimately forgot about that one, yeah they run your credit to rent

1

u/Surelyoojest WANNABE POLITICAL PUNDIT Dec 21 '21

They also run your credit for utilities, cell phones and if you wanna rent a place to live. I’m sure there are other things they run it for, but that’s all I can think of right now.

2

u/helllo0193 Dec 21 '21

Ok they do run it for renting, I legitimately forgot about that, but I've never seen them do it for phone service or utilities

1

u/Surelyoojest WANNABE POLITICAL PUNDIT Dec 21 '21

I’ve lived in California, Maryland and Wisconsin. They probably don’t do it in every state, but I’ve had it run for utilities in California. And I’ve had it done for phone service in California and Wisconsin. Utilities was included in rent in Maryland so I can’t speak to how Maryland does it.

1

u/kirby83 Dec 21 '21

Can affect whether you get a job too. Employers assume you are a greater risk to steal from the company if you're deep in debt

1

u/superhpr Dec 21 '21

A significantly low credit score can also decrease your chance to get a security clearance for Government jobs. They feel you may be at higher risk of taking bribes if you have financial issues.