Current Events > TIL credit scores didn't exist before 1989

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WingsOfGood 12/19/21 1:13:37 PM #1:	https://www.marketplace.org/2014/04/22/brief-history-credit-score/ But it wasnt that long ago that the credit score we know today, the FICO score, didnt exist. The first general-purpose FICO score came along in 1989, only 25 years ago. https://gamefaqs.gamespot.com/a/user_image/0/7/7/AAefUOAACt2N.jpg https://www.reddit.com/r/WhitePeopleTwitter/comments/rjn7uf/only_in_1989/ nevadagrl435 13 hr. ago According to my way older relatives, as in from the 1920s to the 1960s, most people didn't have access to credit. My family comes from the midwest. Poor and middle class white people at least...paid cash for almost everything. If you made enough money and seemed clean enough and had a letter from your pastor you could get a mortgage with 10-15 year term on it. Most of my family that lived in the cities back then were in their 30s-40s when they got their first homes, and lived among people just like them. Banks would not give them enough money to buy a house in the rich neighborhoods, only the middle class union people neighborhoods for white people. The ones who lived on the farms? Someone somewhere up the family tree paid cash after working on someone else's farm for awhile and bought their own land, and passed it down, and there was no credit involved. If they needed credit for things they could get on the ledger at the local general store. That was about it. People who were not rich did not have credit like people do now. They paid cash for everything. Banks would not lend money to poor or middle class people except for houses, and you had to have like 30% down and the terms were, as mentioned, 10-15 years tops. My Boomer parents have told me over and over again, that until the 1990s people didn't use credit like they do now. You just didn't. If you could not afford to pay for something you did without. My parents first car loan, which they only got when my dad re-enlisted in the military, had like an 18% interest rate and my parents had to put 20% down. My dad had to show his papers from the military and his paystubs from the military. And several dealerships turned them down. This was the early 1980s. One of the things I hate about credit scores is it enables society to think it's okay for everybody to be in debt up to their eyeballs. This is a new thing, like from the 1990s onwards, the world lived in by the Boomers and every generation after them. It did not used to be this way at all. How does this make you feel? <cite>WingsOfGood posted [p:961047572] in TIL credit... [t:79817524]...</cite> <quote>https://www.marketplace.org/2014/04/22/brief-history-credit-score/ <quote>But it wasnt that long ago that the credit score we know today, the FICO score, didnt exist. The first general-purpose FICO score came along in 1989, only 25 years ago. </quote> https://gamefaqs.gamespot.com/a/user_image/0/7/7/AAefUOAACt2N.jpg https://www.reddit.com/r/WhitePeopleTwitter/comments/rjn7uf/only_in_1989/ nevadagrl435 13 hr. ago <quote>According to my way older relatives, as in from the 1920s to the 1960s, most people didn't have access to credit. My family comes from the midwest. Poor and middle class white people at least...paid cash for almost everything. If you made enough money and seemed clean enough and had a letter from your pastor you could get a mortgage with 10-15 year term on it. Most of my family that lived in the cities back then were in their 30s-40s when they got their first homes, and lived among people just like them. Banks would not give them enough money to buy a house in the rich neighborhoods, only the middle class union people neighborhoods for white people. The ones who lived on the farms? Someone somewhere up the family tree paid cash after working on someone else's farm for awhile and bought their own land, and passed it down, and there was no credit involved. If they needed credit for things they could get on the ledger at the local general store. That was about it. People who were not rich did not have credit like people do now. They paid cash for everything. Banks would not lend money to poor or middle class people except for houses, and you had to have like 30% down and the terms were, as mentioned, 10-15 years tops. My Boomer parents have told me over and over again, that until the 1990s people didn't use credit like they do now. You just didn't. If you could not afford to pay for something you did without. My parents first car loan, which they only got when my dad re-enlisted in the military, had like an 18% interest rate and my parents had to put 20% down. My dad had to show his papers from the military and his paystubs from the military. And several dealerships turned them down. This was the early 1980s. One of the things I hate about credit scores is it enables society to think it's okay for everybody to be in debt up to their eyeballs. This is a new thing, like from the 1990s onwards, the world lived in by the Boomers and every generation after them. It did not used to be this way at all.</quote> How does this make you feel? </quote> ... Copied to Clipboard!
Njolk 12/19/21 1:16:54 PM #2:	I don't at all feel bad for people who buy things they can't afford, tbh --- Until you give up the idea that happiness is somewhere else, it will never be where you are <cite>Njolk posted [p:961047654] in TIL credit... [t:79817524]...</cite> <quote>I don't at all feel bad for people who buy things they can't afford, tbh </quote> ... Copied to Clipboard!
s0nicfan 12/19/21 1:19:10 PM #3:	I don't mind the concept of a credit score, but it bothers me that the courts decided that these companies don't have to reveal their formula. It's one thing to collectively agree as a society that certain criteria can generally be used to determine whether somebody can handle a loan or not. It's another to keep that secret while also allowing it to impact a great many aspects of life. --- "History Is Much Like An Endless Waltz. The Three Beats Of War, Peace And Revolution Continue On Forever." - Gundam Wing: Endless Waltz <cite>s0nicfan posted [p:961047708] in TIL credit... [t:79817524]...</cite> <quote>I don't mind the concept of a credit score, but it bothers me that the courts decided that these companies don't have to reveal their formula. It's one thing to collectively agree as a society that certain criteria can generally be used to determine whether somebody can handle a loan or not. It's another to keep that secret while also allowing it to impact a great many aspects of life. </quote> ... Copied to Clipboard!
IdiotMachine 12/19/21 1:20:17 PM #4:	I mean FICO scores try to objectively judge people's credit worthiness... before, it was based on interviews, references, etc. Why is that better? --- https://i.imgur.com/XNEdLrJ.png <cite>IdiotMachine posted [p:961047730] in TIL credit... [t:79817524]...</cite> <quote>I mean FICO scores try to objectively judge people's credit worthiness... before, it was based on interviews, references, etc. Why is that better? </quote> ... Copied to Clipboard!
WingsOfGood 12/19/21 1:22:07 PM #5:	Remember Equifax breach? Pepperidge farms does. <cite>WingsOfGood posted [p:961047777] in TIL credit... [t:79817524]...</cite> <quote>Remember Equifax breach? Pepperidge farms does. </quote> ... Copied to Clipboard!
Tyranthraxus 12/19/21 1:22:45 PM #6:	Credit scores aren't a real thing they're provided for high level consumer consumption. Your credit score is generated through haruspicy of your financial credit history. In there are things creditors like and don't like and bureaus will translate that to a "score" for you because you don't get time to read through your entire fucking financial history every day. When you apply for a new credit or loan, the creditors / lenders / banks won't look at your credit score. They will look at the paper work used to determine what your score is and make a judgment based on the original source material. --- It says right here in Matthew 16:4 "Jesus doth not need a giant Mecha." https://i.imgur.com/dQgC4kv.jpg <cite>Tyranthraxus posted [p:961047793] in TIL credit... [t:79817524]...</cite> <quote>Credit scores aren't a real thing they're provided for high level consumer consumption. Your credit score is generated through haruspicy of your financial credit history. In there are things creditors like and don't like and bureaus will translate that to a "score" for you because you don't get time to read through your entire fucking financial history every day. When you apply for a new credit or loan, the creditors / lenders / banks won't look at your credit score. They will look at the paper work used to determine what your score is and make a judgment based on the original source material. </quote> ... Copied to Clipboard!
1337toothbrush 12/19/21 1:23:47 PM #7:	Instead of increasing wages, simply issue debt for "economic growth". Somehow people think this isn't a problem. The annoying part is that this debt increases prices for major purchases and thus you have to go along or you'll be left behind. --- https://imgur.com/a/FU9H8 - http://i.imgur.com/ZkQRDsR.png - http://i.imgur.com/2x2gtgP.jpg <cite>1337toothbrush posted [p:961047815] in TIL credit... [t:79817524]...</cite> <quote>Instead of increasing wages, simply issue debt for "economic growth". Somehow people think this isn't a problem. The annoying part is that this debt increases prices for major purchases and thus you have to go along or you'll be left behind. </quote> ... Copied to Clipboard!
Atralis 12/19/21 1:24:17 PM #8:	Before then they used the tried and true method of interviewing the person trying to get the loan and confirming that they are indeed a white man in a suit. <cite>Atralis posted [p:961047826] in TIL credit... [t:79817524]...</cite> <quote>Before then they used the tried and true method of interviewing the person trying to get the loan and confirming that they are indeed a white man in a suit. </quote> ... Copied to Clipboard!
WingsOfGood 12/19/21 1:24:39 PM #9:	1337toothbrush posted... Instead of increasing wages, simply issue debt for "economic growth". Somehow people think this isn't a problem. The annoying part is that this debt increases prices for major purchases and thus you have to go along or you'll be left behind. nailed it <cite>WingsOfGood posted [p:961047838] in TIL credit... [t:79817524]...</cite> <quote>1337toothbrush posted... </cite> <quote>Instead of increasing wages, simply issue debt for "economic growth". Somehow people think this isn't a problem. The annoying part is that this debt increases prices for major purchases and thus you have to go along or you'll be left behind.</quote> nailed it </quote> ... Copied to Clipboard!
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Prismsblade 12/19/21 1:27:48 PM #12:	s0nicfan posted... I don't mind the concept of a credit score, but it bothers me that the courts decided that these companies don't have to reveal their formula. It's one thing to collectively agree as a society that certain criteria can generally be used to determine whether somebody can handle a loan or not. It's another to keep that secret while also allowing it to impact a great many aspects of life. What part of their formula to you is a secret? Get a credit card, maintain consistant payments, never go above 30% utilization, and allow them to age. I can check said criteria literally whenever I want when I look at my FICO score or whatever other credit grade there is. --- 3DS FC:3368-5403-9633 Name: Kaizer PSN: Blackkaizer <cite>Prismsblade posted [p:961047913] in TIL credit... [t:79817524]...</cite> <quote>s0nicfan posted... </cite> <quote>I don't mind the concept of a credit score, but it bothers me that the courts decided that these companies don't have to reveal their formula. It's one thing to collectively agree as a society that certain criteria can generally be used to determine whether somebody can handle a loan or not. It's another to keep that secret while also allowing it to impact a great many aspects of life.</quote>What part of their formula to you is a secret? Get a credit card, maintain consistant payments, never go above 30% utilization, and allow them to age. I can check said criteria literally whenever I want when I look at my FICO score or whatever other credit grade there is. </quote> ... Copied to Clipboard!
WingsOfGood 12/19/21 1:30:37 PM #13:	[LFAQs-redacted-quote] This should lead us to question what other part of society that is basically broken is indeed not something that is just the way it has always been..... <cite>WingsOfGood posted [p:961047977] in TIL credit... [t:79817524]...</cite> <quote><cite>[LFAQs-redacted-quote]</cite> This should lead us to question what other part of society that is basically broken is indeed not something that is just the way it has always been..... </quote> ... Copied to Clipboard!
s0nicfan 12/19/21 1:30:50 PM #14:	Prismsblade posted... What part of their formula to you is a secret? Get a credit card, maintain consistant payments, never go above 30% utilization, and allow them to age. I can check said criteria literally whenever I want when I look at my FICO score or whatever other credit grade there is. Uh... the actual formula? Everyone has a vague idea of what impacts a credit score and lots of anecdotal evidence about what should in practice keep your score high, but exactly how much is a complete unknown. It went all the way up to the Supreme Court because somebody wanted to know exactly how their credit score was calculated and the Supreme Court basically said no, they don't have to share it because then somebody might abuse it. --- "History Is Much Like An Endless Waltz. The Three Beats Of War, Peace And Revolution Continue On Forever." - Gundam Wing: Endless Waltz <cite>s0nicfan posted [p:961047984] in TIL credit... [t:79817524]...</cite> <quote>Prismsblade posted... </cite> <quote>What part of their formula to you is a secret? Get a credit card, maintain consistant payments, never go above 30% utilization, and allow them to age. I can check said criteria literally whenever I want when I look at my FICO score or whatever other credit grade there is.</quote> Uh... the actual formula? Everyone has a vague idea of what impacts a credit score and lots of anecdotal evidence about what should in practice keep your score high, but exactly how much is a complete unknown. It went all the way up to the Supreme Court because somebody wanted to know exactly how their credit score was calculated and the Supreme Court basically said no, they don't have to share it because then somebody might abuse it. </quote> ... Copied to Clipboard!
MrToothHasYou 12/19/21 1:31:25 PM #15:	Its a mixed bag. Credit scores evened the playing field in a lot of ways with regards to who had access to credit. Before standardized scores it was very easy to hide open discrimination against marginalized groups - minorities, women, LGBTQ folks, even different religions. The current credit score system still discriminates where those marginalized groups suffer from external financial discrimination, or still feel the effects of previous discrimination, because it still discriminates quite strongly based on class and wealth. Credit itself isnt a bad thing, it predates currency itself, but the way we use credit and lending nowadays is not great. --- An Injury to One is an Injury to All https://iww.org/ <cite>MrToothHasYou posted [p:961048000] in TIL credit... [t:79817524]...</cite> <quote>Its a mixed bag. Credit scores evened the playing field in a lot of ways with regards to who had access to credit. Before standardized scores it was very easy to hide open discrimination against marginalized groups - minorities, women, LGBTQ folks, even different religions. The current credit score system still discriminates where those marginalized groups suffer from external financial discrimination, or still feel the effects of previous discrimination, because it still discriminates quite strongly based on class and wealth. Credit itself isnt a bad thing, it predates currency itself, but the way we use credit and lending nowadays is not great. </quote> ... Copied to Clipboard!
WingsOfGood 12/19/21 1:31:43 PM #16:	Prismsblade posted... What part of their formula to you is a secret? Get a credit card, maintain consistant payments, never go above 30% utilization, and allow them to age. I can check said criteria literally whenever I want when I look at my FICO score or whatever other credit grade there is. If you pay off a big debt like your house even with no credit card involvement, you will tank your score. <cite>WingsOfGood posted [p:961048010] in TIL credit... [t:79817524]...</cite> <quote>Prismsblade posted... </cite> <quote>What part of their formula to you is a secret? Get a credit card, maintain consistant payments, never go above 30% utilization, and allow them to age. I can check said criteria literally whenever I want when I look at my FICO score or whatever other credit grade there is.</quote> If you pay off a big debt like your house even with no credit card involvement, you will tank your score. </quote> ... Copied to Clipboard!
Broseph_Stalin 12/19/21 1:32:57 PM #17:	[LFAQs-redacted-quote] oh no don't do that <cite>Broseph_Stalin posted [p:961048041] in TIL credit... [t:79817524]...</cite> <quote><cite>[LFAQs-redacted-quote]</cite> oh no don't do that </quote> ... Copied to Clipboard!
WingsOfGood 12/19/21 1:33:26 PM #18:	MrToothHasYou posted... The current credit score system still discriminates where those marginalized groups suffer from external financial discrimination, or still feel the effects of previous discrimination, because it still discriminates quite strongly based on class and wealth. "is a mixed bag" "actually all the bad I said it got rid of infact still exists" what <cite>WingsOfGood posted [p:961048052] in TIL credit... [t:79817524]...</cite> <quote>MrToothHasYou posted... </cite> <quote>The current credit score system still discriminates where those marginalized groups suffer from external financial discrimination, or still feel the effects of previous discrimination, because it still discriminates quite strongly based on class and wealth.</quote> "is a mixed bag" "actually all the bad I said it got rid of infact still exists" what </quote> ... Copied to Clipboard!
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WingsOfGood 12/19/21 1:36:39 PM #21:	[LFAQs-redacted-quote] broseph is bascially a blind capitalism sluprer and probably takes offense to the idea that any small part of the current system can be bad or misused. <cite>WingsOfGood posted [p:961048147] in TIL credit... [t:79817524]...</cite> <quote><cite>[LFAQs-redacted-quote]</cite> broseph is bascially a blind capitalism sluprer and probably takes offense to the idea that any small part of the current system can be bad or misused. </quote> ... Copied to Clipboard!
s0nicfan 12/19/21 1:38:12 PM #22:	There's also the fact that the credit scores you're given online aren't even guaranteed to match the scores that lenders are given. The fact that there are multiple formulas, none of which anybody is given access to, combined with the fact that they don't even have to give you a real calculation, means that nobody really has a good sense of exactly how credit works, which is a problem. https://www.cnbc.com/2019/05/10/those-credit-scores-you-see-may-not-be-what-lenders-use.html --- "History Is Much Like An Endless Waltz. The Three Beats Of War, Peace And Revolution Continue On Forever." - Gundam Wing: Endless Waltz <cite>s0nicfan posted [p:961048183] in TIL credit... [t:79817524]...</cite> <quote>There's also the fact that the credit scores you're given online aren't even guaranteed to match the scores that lenders are given. The fact that there are multiple formulas, none of which anybody is given access to, combined with the fact that they don't even have to give you a real calculation, means that nobody really has a good sense of exactly how credit works, which is a problem. https://www.cnbc.com/2019/05/10/those-credit-scores-you-see-may-not-be-what-lenders-use.html </quote> ... Copied to Clipboard!
WingsOfGood 12/19/21 1:39:23 PM #23:	s0nicfan posted... There's also the fact that the credit scores you're given online aren't even guaranteed to match the scores that lenders are given. The fact that there are multiple formulas, none of which anybody is given access to, combined with the fact that they don't even have to give you a real calculation, means that nobody really has a good sense of exactly how credit works, which is a problem. https://www.cnbc.com/2019/05/10/those-credit-scores-you-see-may-not-be-what-lenders-use.html So you can think your score is good and they be like "nope you got bad score" and you like WHAT!?!? wow <cite>WingsOfGood posted [p:961048211] in TIL credit... [t:79817524]...</cite> <quote>s0nicfan posted... </cite> <quote>There's also the fact that the credit scores you're given online aren't even guaranteed to match the scores that lenders are given. The fact that there are multiple formulas, none of which anybody is given access to, combined with the fact that they don't even have to give you a real calculation, means that nobody really has a good sense of exactly how credit works, which is a problem. https://www.cnbc.com/2019/05/10/those-credit-scores-you-see-may-not-be-what-lenders-use.html</quote> So you can think your score is good and they be like "nope you got bad score" and you like WHAT!?!? wow </quote> ... Copied to Clipboard!
Derwood 12/19/21 1:39:30 PM #24:	Is this the thread where people blame their shit credit on the credit score people instead of their terrible financial habits? <cite>Derwood posted [p:961048217] in TIL credit... [t:79817524]...</cite> <quote>Is this the thread where people blame their shit credit on the credit score people instead of their terrible financial habits? </quote> ... Copied to Clipboard!
lZUAL_REBlRTH 12/19/21 1:40:25 PM #25:	Njolk posted... I don't at all feel bad for people who buy things they can't afford, tbh You expect people to be able to buy a house outright with no mortgage? Lmao. <cite>lZUAL_REBlRTH posted [p:961048249] in TIL credit... [t:79817524]...</cite> <quote>Njolk posted... </cite> <quote>I don't at all feel bad for people who buy things they can't afford, tbh</quote> You expect people to be able to buy a house outright with no mortgage? Lmao. </quote> ... Copied to Clipboard!
Derwood 12/19/21 1:40:51 PM #26:	lZUAL_REBlRTH posted... You expect people to be able to buy a house outright with no mortgage? Lmao. That's clearly not what he's talking about <cite>Derwood posted [p:961048259] in TIL credit... [t:79817524]...</cite> <quote>lZUAL_REBlRTH posted... </cite> <quote>You expect people to be able to buy a house outright with no mortgage? Lmao.</quote> That's clearly not what he's talking about </quote> ... Copied to Clipboard!
WingsOfGood 12/19/21 1:41:05 PM #27:	Derwood posted... Is this the thread where people blame their shit credit on the credit score people instead of their terrible financial habits? @Derwood no <cite>WingsOfGood posted [p:961048265] in TIL credit... [t:79817524]...</cite> <quote>Derwood posted... </cite> <quote>Is this the thread where people blame their shit credit on the credit score people instead of their terrible financial habits?</quote> @Derwood no </quote> ... Copied to Clipboard!
Derwood 12/19/21 1:41:27 PM #28:	WingsOfGood posted... @Derwood no wait for it... <cite>Derwood posted [p:961048272] in TIL credit... [t:79817524]...</cite> <quote>WingsOfGood posted... </cite> <quote>@Derwood no</quote> wait for it... </quote> ... Copied to Clipboard!
sutree 12/19/21 1:42:15 PM #29:	"boomers" Stop blaming everything on baby boomers. They were only in their twenties to early forties in 1989. The prior two generations still held most of the political power. --- In the time of chimpanzees I was a monkey <cite>sutree posted [p:961048296] in TIL credit... [t:79817524]...</cite> <quote>"boomers" Stop blaming everything on baby boomers. They were only in their twenties to early forties in 1989. The prior two generations still held most of the political power. </quote> ... Copied to Clipboard!
WingsOfGood 12/19/21 1:42:39 PM #30:	Derwood posted... wait for it... wait for what? <cite>WingsOfGood posted [p:961048305] in TIL credit... [t:79817524]...</cite> <quote>Derwood posted... </cite> <quote>wait for it...</quote> wait for what? </quote> ... Copied to Clipboard!
MrToothHasYou 12/19/21 1:42:53 PM #31:	WingsOfGood posted... "is a mixed bag" "actually all the bad I said it got rid of infact still exists" what Theres large difference between open discrimination, and discrimination that is baked into class lines due to external factors. Credit scores did drastically reduce, but not eliminate, discrimination in lending. Is that easier for you to make sense of? --- An Injury to One is an Injury to All https://iww.org/ <cite>MrToothHasYou posted [p:961048315] in TIL credit... [t:79817524]...</cite> <quote>WingsOfGood posted... </cite> <quote>"is a mixed bag" "actually all the bad I said it got rid of infact still exists" what</quote>Theres large difference between open discrimination, and discrimination that is baked into class lines due to external factors. Credit scores did drastically reduce, but not eliminate, discrimination in lending. Is that easier for you to make sense of? </quote> ... Copied to Clipboard!
lZUAL_REBlRTH 12/19/21 1:43:12 PM #32:	s0nicfan posted... There's also the fact that the credit scores you're given online aren't even guaranteed to match the scores that lenders are given. The fact that there are multiple formulas, none of which anybody is given access to, combined with the fact that they don't even have to give you a real calculation, means that nobody really has a good sense of exactly how credit works, which is a problem. https://www.cnbc.com/2019/05/10/those-credit-scores-you-see-may-not-be-what-lenders-use.html Yeah exactly. The score itself is just using whatever algorithm the credit agencies wanna use so you can compare with others. I dont take much interest in it. The lenders get access to the raw data and make their decision based on that and dont use the score itself. It might be some lenders care more about your ability to be a consistent at repayments and dont care how much you have stretched yourselves. While others might care more that youve got a load of credit you arent doing anything with. Its no one size fits all when it comes to credit. <cite>lZUAL_REBlRTH posted [p:961048324] in TIL credit... [t:79817524]...</cite> <quote>s0nicfan posted... </cite> <quote>There's also the fact that the credit scores you're given online aren't even guaranteed to match the scores that lenders are given. The fact that there are multiple formulas, none of which anybody is given access to, combined with the fact that they don't even have to give you a real calculation, means that nobody really has a good sense of exactly how credit works, which is a problem. https://www.cnbc.com/2019/05/10/those-credit-scores-you-see-may-not-be-what-lenders-use.html</quote> Yeah exactly. The score itself is just using whatever algorithm the credit agencies wanna use so you can compare with others. I dont take much interest in it. The lenders get access to the raw data and make their decision based on that and dont use the score itself. It might be some lenders care more about your ability to be a consistent at repayments and dont care how much you have stretched yourselves. While others might care more that youve got a load of credit you arent doing anything with. Its no one size fits all when it comes to credit. </quote> ... Copied to Clipboard!
Broseph_Stalin 12/19/21 1:43:21 PM #33:	[LFAQs-redacted-quote] It's a PragerU clone, their videos are filled with lies and misinformation. Credit scores were invented because credit was eventually made accessible to more people. Before that only the rich had access to credit, boomers all had to pay like 14% mortgage rates when they were our age. <cite>Broseph_Stalin posted [p:961048331] in TIL credit... [t:79817524]...</cite> <quote><cite>[LFAQs-redacted-quote]</cite> It's a PragerU clone, their videos are filled with lies and misinformation. Credit scores were invented because credit was eventually made accessible to more people. Before that only the rich had access to credit, boomers all had to pay like 14% mortgage rates when they were our age. </quote> ... Copied to Clipboard!
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WingsOfGood 12/19/21 1:44:30 PM #35:	sutree posted... "boomers" Stop blaming everything on baby boomers. They were only in their twenties to early forties in 1989. The prior two generations still held most of the political power. https://www.beresfordresearch.com/age-range-by-generation/ Boomers II1955 1964 57 66 Boomers I1946 1954 67 75 1989 - 1946 = 43 Also, who they vote for and such, etc. <cite>WingsOfGood posted [p:961048354] in TIL credit... [t:79817524]...</cite> <quote>sutree posted... </cite> <quote>"boomers" Stop blaming everything on baby boomers. They were only in their twenties to early forties in 1989. The prior two generations still held most of the political power.</quote> https://www.beresfordresearch.com/age-range-by-generation/ <quote>Boomers II1955 1964 57 66 Boomers I1946 1954 67 75</quote> 1989 - 1946 = 43 Also, who they vote for and such, etc. </quote> ... Copied to Clipboard!
FortuneCookie 12/19/21 1:45:05 PM #36:	Oh, no. Boomers! The bad generation strikes again. <cite>FortuneCookie posted [p:961048371] in TIL credit... [t:79817524]...</cite> <quote>Oh, no. Boomers! The bad generation strikes again. </quote> ... Copied to Clipboard!
Smashingpmkns 12/19/21 1:45:19 PM #37:	I used to work behind the scenes in the timeshare industry (fucking awful, I know) and we would have like 3 different numbers, often drastically different (and one was just a color actually) that we would go by to see if someone was approved. It usually didn't matter if they passed or not though cuz it is an awful, predatory industry and any sign off by a manager was enough to ruin someone's life for 10ish years. --- http://i.imgur.com/x04tPRZ.jpg http://i.imgur.com/t7T392I.jpg <cite>Smashingpmkns posted [p:961048377] in TIL credit... [t:79817524]...</cite> <quote>I used to work behind the scenes in the timeshare industry (fucking awful, I know) and we would have like 3 different numbers, often drastically different (and one was just a color actually) that we would go by to see if someone was approved. It usually didn't matter if they passed or not though cuz it is an awful, predatory industry and any sign off by a manager was enough to ruin someone's life for 10ish years.</quote> ... Copied to Clipboard!
lZUAL_REBlRTH 12/19/21 1:45:52 PM #38:	Broseph_Stalin posted... It's a PragerU clone, their videos are filled with lies and misinformation. Credit scores were invented because credit was eventually made accessible to more people. Before that only the rich had access to credit, boomers all had to pay like 14% mortgage rates when they were our age. That was as much to do with inflation as anything. <cite>lZUAL_REBlRTH posted [p:961048398] in TIL credit... [t:79817524]...</cite> <quote>Broseph_Stalin posted... </cite> <quote>It's a PragerU clone, their videos are filled with lies and misinformation. Credit scores were invented because credit was eventually made accessible to more people. Before that only the rich had access to credit, boomers all had to pay like 14% mortgage rates when they were our age.</quote> That was as much to do with inflation as anything. </quote> ... Copied to Clipboard!
#39	Post #39 was unavailable or deleted.
WingsOfGood 12/19/21 1:47:48 PM #40:	Smashingpmkns posted... I used to work behind the scenes in the timeshare industry (fucking awful, I know) and we would have like 3 different numbers, often drastically different (and one was just a color actually) that we would go by to see if someone was approved. It usually didn't matter if they passed or not though cuz it is an awful, predatory industry and any sign off by a manager was enough to ruin someone's life for 10ish years. Was there bonus if you got someone to buy? <cite>WingsOfGood posted [p:961048451] in TIL credit... [t:79817524]...</cite> <quote>Smashingpmkns posted... </cite> <quote>I used to work behind the scenes in the timeshare industry (fucking awful, I know) and we would have like 3 different numbers, often drastically different (and one was just a color actually) that we would go by to see if someone was approved. It usually didn't matter if they passed or not though cuz it is an awful, predatory industry and any sign off by a manager was enough to ruin someone's life for 10ish years.</quote> Was there bonus if you got someone to buy? </quote> ... Copied to Clipboard!
Shishiwakamaru 12/19/21 1:48:45 PM #41:	How is it a scam? Its unintuitive and confusing, but that doesnt mean its a scam tbh. There is a tried and true method of getting a good credit score, and its pretty obvious and simple (pay back your statement balances every month) --- Tell her about it! <cite>Shishiwakamaru posted [p:961048472] in TIL credit... [t:79817524]...</cite> <quote>How is it a scam? Its unintuitive and confusing, but that doesnt mean its a scam tbh. There is a tried and true method of getting a good credit score, and its pretty obvious and simple (pay back your statement balances every month) </quote> ... Copied to Clipboard!
sutree 12/19/21 1:50:49 PM #42:	WingsOfGood posted... 1989 - 1946 = 43 ??? sutree posted... They were only in their twenties to early forties in 1989. --- In the time of chimpanzees I was a monkey <cite>sutree posted [p:961048527] in TIL credit... [t:79817524]...</cite> <quote>WingsOfGood posted... </cite> <quote> 1989 - 1946 = 43</quote> ??? sutree posted... </cite> <quote>They were only in their twenties to early forties in 1989.</quote> </quote> ... Copied to Clipboard!
Smashingpmkns 12/19/21 1:52:51 PM #43:	WingsOfGood posted... Was there bonus if you got someone to buy? I was only in a real sales position for about 6 months while I was there. Over the phone. But yeah they had commissions. Then I went to manage the events program which was pretty damn predatory. I eventually went to a business management and data analytics role which was slightly less soul crushing. --- http://i.imgur.com/x04tPRZ.jpg http://i.imgur.com/t7T392I.jpg <cite>Smashingpmkns posted [p:961048577] in TIL credit... [t:79817524]...</cite> <quote>WingsOfGood posted...</cite> <quote> Was there bonus if you got someone to buy? </quote> I was only in a real sales position for about 6 months while I was there. Over the phone. But yeah they had commissions. Then I went to manage the events program which was pretty damn predatory. I eventually went to a business management and data analytics role which was slightly less soul crushing.</quote> ... Copied to Clipboard!
Shishiwakamaru 12/19/21 1:52:59 PM #44:	sutree posted... ??? Yeah that is almost the exact spot millennials are at now too. --- Tell her about it! <cite>Shishiwakamaru posted [p:961048579] in TIL credit... [t:79817524]...</cite> <quote>sutree posted... </cite> <quote>???</quote> Yeah that is almost the exact spot millennials are at now too. </quote> ... Copied to Clipboard!
s0nicfan 12/19/21 1:53:40 PM #45:	[LFAQs-redacted-quote] If you don't want to take broseph's word just check out their media bias fact check profile: https://mediabiasfactcheck.com/gravel-institute-bias/ --- "History Is Much Like An Endless Waltz. The Three Beats Of War, Peace And Revolution Continue On Forever." - Gundam Wing: Endless Waltz <cite>s0nicfan posted [p:961048594] in TIL credit... [t:79817524]...</cite> <quote><cite>[LFAQs-redacted-quote]</cite> If you don't want to take broseph's word just check out their media bias fact check profile: https://mediabiasfactcheck.com/gravel-institute-bias/ </quote> ... Copied to Clipboard!
ScazarMeltex 12/19/21 1:54:54 PM #46:	IdiotMachine posted... I mean FICO scores try to objectively judge people's credit worthiness... before, it was based on interviews, references, etc. Why is that better? If it's objective then they should post the formulae and criteria they use. --- "If you wish to converse with me define your terms" Voltaire <cite>ScazarMeltex posted [p:961048634] in TIL credit... [t:79817524]...</cite> <quote>IdiotMachine posted... </cite> <quote>I mean FICO scores try to objectively judge people's credit worthiness... before, it was based on interviews, references, etc. Why is that better?</quote>If it's objective then they should post the formulae and criteria they use. </quote> ... Copied to Clipboard!
BadderHare 12/19/21 2:02:40 PM #47:	[LFAQs-redacted-quote] Well propaganda does not describe itself as propaganda lol It was made to imitate PragerU but from the left. They saw how effective PragerU was at presenting lies as fact. <cite>BadderHare posted [p:961048820] in TIL credit... [t:79817524]...</cite> <quote><cite>[LFAQs-redacted-quote]</cite> Well propaganda does not describe itself as propaganda lol It was made to imitate PragerU but from the left. They saw how effective PragerU was at presenting lies as fact. </quote> ... Copied to Clipboard!
Prismsblade 12/19/21 2:06:16 PM #48:	s0nicfan posted... Uh... the actual formula? Everyone has a vague idea of what impacts a credit score and lots of anecdotal evidence about what should in practice keep your score high, but exactly how much is a complete unknown. It went all the way up to the Supreme Court because somebody wanted to know exactly how their credit score was calculated and the Supreme Court basically said no, they don't have to share it because then somebody might abuse it. Idk anything about this formula you speak of and never needed it. Just do what the they tell you to do on the FICO page and you're have a high score in due time. Although it may take longer then some depending on your history. WingsOfGood posted... If you pay off a big debt like your house even with no credit card involvement, you will tank your score. Yes, because you're have 1 less open account which in turn affects your account age and again, your credit score. But as it ages, it will eventually rise again. None of this is a secret. Seriously, if you people actually spent more time learning about them rather then writing them off as some vague, capitalists scam you'd have a high score and taking advantage of all the perks it offers. --- 3DS FC:3368-5403-9633 Name: Kaizer PSN: Blackkaizer <cite>Prismsblade posted [p:961048899] in TIL credit... [t:79817524]...</cite> <quote>s0nicfan posted... </cite> <quote>Uh... the actual formula? Everyone has a vague idea of what impacts a credit score and lots of anecdotal evidence about what should in practice keep your score high, but exactly how much is a complete unknown. It went all the way up to the Supreme Court because somebody wanted to know exactly how their credit score was calculated and the Supreme Court basically said no, they don't have to share it because then somebody might abuse it.</quote>Idk anything about this formula you speak of and never needed it. Just do what the they tell you to do on the FICO page and you're have a high score in due time. Although it may take longer then some depending on your history. WingsOfGood posted... </cite> <quote>If you pay off a big debt like your house even with no credit card involvement, you will tank your score.</quote>Yes, because you're have 1 less open account which in turn affects your account age and again, your credit score. But as it ages, it will eventually rise again. None of this is a secret. Seriously, if you people actually spent more time learning about them rather then writing them off as some vague, capitalists scam you'd have a high score and taking advantage of all the perks it offers. </quote> ... Copied to Clipboard!
TheGoldenEel 12/19/21 2:07:58 PM #49:	Njolk posted... I don't at all feel bad for people who buy things they can't afford, tbh yeah if you cant pay cash up front for a car or a house fuck you imo --- BLACK LIVES MATTER Games: http://backloggery.com/wrldindstries302 \\ Music: http://www.last.fm/user/DrMorberg/ <cite>TheGoldenEel posted [p:961048928] in TIL credit... [t:79817524]...</cite> <quote>Njolk posted... </cite> <quote>I don't at all feel bad for people who buy things they can't afford, tbh</quote>yeah if you cant pay cash up front for a car or a house fuck you imo </quote> ... Copied to Clipboard!
s0nicfan 12/19/21 2:12:43 PM #50:	Prismsblade posted... Idk anything about this formula you speak of and never needed it. Just do what the they tell you to do on the FICO page and you're have a high score in due time. Although it may take longer then some depending on your history. I have an excellent credit history. It's not that I need more targeted advice on how to improve my score. I just believe that if your ability to get a loan on a home or a car is directly dependent on it, and if creditors can you use the threat of lowering your score against you, it's only fair to have full transparency into how your score is calculated. --- "History Is Much Like An Endless Waltz. The Three Beats Of War, Peace And Revolution Continue On Forever." - Gundam Wing: Endless Waltz <cite>s0nicfan posted [p:961049054] in TIL credit... [t:79817524]...</cite> <quote>Prismsblade posted... </cite> <quote>Idk anything about this formula you speak of and never needed it. Just do what the they tell you to do on the FICO page and you're have a high score in due time. Although it may take longer then some depending on your history.</quote> I have an excellent credit history. It's not that I need more targeted advice on how to improve my score. I just believe that if your ability to get a loan on a home or a car is directly dependent on it, and if creditors can you use the threat of lowering your score against you, it's only fair to have full transparency into how your score is calculated. </quote> ... Copied to Clipboard!
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Current Events > TIL credit scores didn't exist before 1989 (+) Yeah! (+)

Current Events > TIL credit scores didn't exist before 1989