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#CreditScore

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By #Voting for #Democrats We Make Our Lives Better!

US House Representative Sarah McBride is the first freshman Democrat to introduce a bill in the new Congress.

The Ending Scam Credit Repair Act seeks to crack down on "fraudulent practices" from companies that "deceive consumers with high fees and empty promises" to fix credit scores. #uspol #uspolitics #trans #economy #CreditScore #houseofrepresentatives #lgbtq #lgbtqia

notus.org/congress/sarah-mcbri

Sarah McBride
NOTUS · Republicans Attacked Sarah McBride Even Before She Got to Congress. Her First Bill Is Bipartisan.Some House Republicans have been trying to make McBride, the first openly trans member of Congress, feel unwelcome on the Hill.

Trying to understand the #CreditScore system (in the UK) as it seems it might be useful one day if I need to make a loan...

Told that I needed a credit card to help with it so I got one. I don't need it and don't want to pay any fees so my credit usage is 0%.

Now told "it appears you aren't using any of your credit, so there's more you can do to improve this" and "Lenders prefer to see that you're using at least some of your credit".
... Whyyyy 😣

Sure, it's good to promote healthier life #habits, but doing so via #CreditScore still seems to be a way to punish the #poor for being poor (and thus having to do grocery irregularly, esp. for those living check-to-check). Also, desire to seek more #correlation with #creditworthiness will result in more and more factors being collected, furthering various biases... Not to mention #privacy...

theconversation.com/no-credit-

The ConversationNo credit score? A grocery list could be the next best thingWhat you buy at the grocery store can predict whether you pay your credit card bills on time, new research suggests.

One nice thing about the total global #DataBreach is, some really bad guys had our info all along and used it against us to redline poc, force women to accept higher interest rates on loans, deny *housing* and *jobs* on the basis of an invented #CreditScore
But now, ALL the bad guys have all the same shit, reducing its value in #capitalism
The data wouldn't have any value if it weren't useful as a weapon against humanity.
And now the capitalists can fight each other for it, while we find new ways to build up networks of mutual support, knowing that the old networks always were hopelessly corrupted.

This is a big deal: starting July 1, medical debt will no longer be used in calculating credit scores, a policy change by Biden's administration.

A whole lot more people will qualify for car loans, leases, and mortgages.

Anyone can find themselves with medical debt, given the bizarre health insurance world we live in, so spread the word! We probably all know people this will help.

#debt #finance #creditscore #housing

yahoo.com/news/vp-kamala-harri

Yahoo News · VP Kamala Harris Touts Move To Remove Medical Debt From Credit ScoresBy Christopher Rhodes
Continued thread

And that leads us to the second reason: the credit bureaus have a financial interest in depressing your credit score, because they sell valuable marketing data about high-risk borrowers to subprime lenders.

The more high-risk files there are, the more money they make from subprime lenders. Low-risk borrowers just aren't as profitable.

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