It’d be funny if they were eg. Revolutionary Socialist Party and Socialist Revolutionary Party, or Communist Party of India and Indian Communist Party. Now it’s just… well, two parties with very different names and different politics (socialism ≠ communism) (edit: see reply comment re politics of the RSP)
RSP is a proper communist party, with it’s root in the HSRA, the original revolutionary communist party in British India. Communist parties break away a lot, because they disagree with each other. Coming with names is hard, because they’re already taken, so they have to use the word related to ‘socialism’.
…except that it used to be that your ability to secure a loan was based on where you went to school, how firm your handshake was, and if you happened to have the right skin color and sex organs.
The current system certainly isn’t perfect; and if you’re denied a loan you have a legal right (in the US) to know the reason.
There are systemic issues, to be sure. But the nominal goal is absolutely better than what we used to have.
We can’t ignore that there are other ways of doing it besides credit scores or overt racism. Some countries have no credit scores at all and just base loan eligibility on your salary and employment history.
And how exactly is guessing your credit worthiness based on those factors a better system than literally keeping track of what happened each previous time money was lent to you, when it comes to making a decision on lending money to you?
This is like arguing it’s a better idea to select NBA players by their height, than by their performance in high school and college basketball games.
Sorry, I’m not sure how to answer “how is measuring your credit worthiness based on your income a good way to determine how much to lend you.” I would think it’s pretty obvious that your capacity to repay a loan is dependent on your current income, not how many loans and credit cards you’ve had active in the past.
1 in 4 households earning over $100,000 a year live paycheck to paycheck–not because they can’t make ends meet, but because their money management sucks. A high income has very little relationship with responsible borrowing, despite what many would assume.
I’d definitely recommend getting a credit report (not from the websites that advertise with an insane jingle, but from the actual credit bureaus — you’re entitled to a free report). Mine had debt from a relative with a similar name; I was able to get that removed. They will also tell you in more detail what goes in to calculating it.
I agree that it’s not perfect, and often very opaque, but you should be able to get some understanding of why she doesn’t have good credit.
Just because you refuse to learn doesn’t mean it’s magic. It is very simple to understand why exactly you have the credit score you do. Maybe mommy isn’t being entirely truthful with you.
Does your mom have debt that she pays on time? Is her “doing everything right” visible to credit scoring agencies and aligned what statistic says about good borrowing customers?
Credit score doesn’t mean “runs a good personal economy” it means “likely to pay their loans on time, consistently, based on statistics that are observable”.
Most people who think they understand how credit scores work…don’t understand how credit scores work.
The biggest things are loan-to-limit, payment history, and average age of accounts.
Loan-to-limit is easily achieved by keeping balances below 50%, and ideally below 30%. It’s also helped tremendously by not carrying a revolving balance (paying the statement balance in full each month) and not closing idle cards.
Payment history is of course helped by making payments on time.
And AAoA is probably the easiest. Just don’t close cards. Call and “downgrade” a card if it isn’t worth the annual fee. If there’s no annual fee, there’s no reason to close a card.
Just make sure you use it every now and then and pay it off. I sock-drawered one of my oldest cards a long time ago and it just closed last month from being idle, and that took a hit to my score (high limit gone and it’s no longer incrementing time in my AAoA).
It’s also worth mentioning that credit scores don’t matter until you are looking for credit. Credit cards are probably the easiest way to build credit, as long as they are used properly. But they’ll give a basic card to any schmuck. Where it really matters is getting mortgages and larger loans like cars. That’s where having a good score matters. And also better cards that earn more points/miles/cashback and have other fringe benefits.
Only people who are bad credit risks ever come up with this take, lmao.
The sole function of credit scores is to benefit people who are reliably ‘good for it’ when they borrow money. Without them, everyone is treated as just as high a risk as the worst borrowers who are least likely to pay back their debts, and you gain no benefit from reliably paying back your debts. But with them, your good borrowing is kept track of, and good reputation means lenders trust you more to pay your debts back, so they’re willing to lend more, and they are willing to charge less interest.
Removing credit scores changes nothing for bad borrowers, and hurts good borrowers.
The thing is you’re forgetting who are good borrowers and who are bad borrowers. A person with a low income with a precarious job will be a very bad borrower, and imposing a higher interest rate on them on top of that is just the final nail in the coffin. We generally believe universal healthcare is good, and we don’t want to discriminate “good health” and “bad health” people and make unhealthy people pay more, do we?
imposing a higher interest rate on them on top of that is just the final nail in the coffin.
That’s the only way to justify loaning to people like that at all, given how much more often they default (and the lender never gets repaid at all). If lenders were forced to give the same interest rate to everyone, that would cause them not to lend to “A person with a low income with a precarious job” at all.
If the lenders operate with the purpose of maximizing profit, then yeah, it makes sense not to loan money to people in precarious situations except at high interest rates, that’s my whole point: that’s evil, the profit motive leads to evil decisions. Let’s have public banks instead, where interest rates for loans are equalised, in the same way that every taxpayer gets identical access to healthcare regardless of how much they contribute through their income.
You’re discounting the people who have always lived within their means and so never took on debt. They also don’t have good credit. They’ve never missed a payment. They’re good for the money. But they don’t have a history showing that because they’ve never needed that.
You’re discounting the people who have always lived within their means and so never took on debt.
No I’m not. Those people are unknown quantities, and so also suffer if credit scores go away, because bad borrowers are worse than first-time borrowers, so without credit scores, first-timers will be treated worse.
Where did they say the government handed out credit scores? The meme was pointing out a double standard, not saying the government hands out credit scores.
This entire comment is just you admitting you have below average reading comprehension.
I think you’d be surprised how close it would actually be, seeing how German spelling is almost spot on to the written word. Like here for example. I took the liberty to steal your post
Bii tö tseints juu vant to sii in tis völd." Du juu häv ä feivörit kvout?
“Be the change you want to see in this world” Do you have a favorite quote?
Good job on “quote” that’s creative spelling. In “Vörld” the o in this case is actually an ö when looking at it with a German pronunciation. Now, this is my attempt at that sentence:
“Bie dä tschänsch ju want to sie in dis wörld” Du ju hef ä fevorit quote?
I have not seen this kind of language, so I assume it’s a new trend for English speaker. In the DACH region, writing like you speak your accent is a pretty common thing outside the major towns. I’ll leave you with a pretty complex example where the writer tried to show the pronunciation by using different circumflex to show how different letters are pronounced. pasteboard.co/rMJcvSHAFx6g.jpgIt’s pretty extreme, but if you are fluent in any German alpine dialect you will have little problem reading it.
I vote for not giving corporations shit for one of the few positive things they do. Honestly, I worry that this backlash against corporations supporting LGBTQ+ people is actually often being pushed by homophobes.
Maybe it’s shallow and maybe it’s not very long lasting, but at least it’s public and positive.
ya as much as it’s just virtue signalling, it’s still showing that LGBTQ+ people are being supported by majority, there will indeed be something to worry about if they stopped suddenly.
It’s amazing how many internet providers still won’t enable IPv6, even though it is hugely beneficial to their own networks (more efficient routing = less router overhead = more bandwidth and less power usage = SAVE MONEY).
IPv6 was pernanently turned on for the Internet in 2011. That’s THIRTEEN YEARS AGO.
All consumer and enterprise equipment made in the last 10+ years natively support IPv6. There is no excuse anymore. You can enable dual stack and setup / get your v6 block and go for it. The v6 routing tables are much simpler than the v4 routing tables, as it only has to point to the prefix network for any address, and prefixes are handed out so the ISP gets a contigious prefix block. The routers sort the rest out.
IPv6 has the 2000::/3 range for internet traffic. That’s 2^125 ip addresses possible. We’re not running out of those even if we have an internet on every planet in the solar system.
IPv6 Prefix Delegation works like DHCP but for IPv6. It’s not indecipherable magic runes.
Router asks for a v6 range -> ISP router gives the range -> Router then either further subdivides into subnets, or uses DHCPv6 to give out v6 addresses. Simple.
But of course, nobody wants to do it the simple way… AT&T and your strange subnetting spec-breaking routers.
Odd that Comcast/Xfinity, the company that somehow manages to have even worse service than AT&T, implements IPv6 near perfectly. They give prefixes when your router asks. Their own gateways give prefixes to routers behind when requested. It works. If the arguably worst internet company can deploy IPv6 this well, any company can.
In addition, every device also has its own link-local ipv6 (fe80::/16) that is not routed, but can be called directly and it normally doesn’t change, as it is based partly on the network card’s MAC address. Need to connect your printer by ip address? Use the link local v6 and stop having to play the DHCP or static IP charade.
I'm fairly sure it must take extra work to make dynamic prefixes. I've heard some weird justifications about localised routing. But modern ISPs generally don't work that way at all. For example, my ISP has endpoints in multiple cities, and can fail over to another city if need be. All my static IPv4 and IPv6 instantly move with me in that event.
Yes it does take extra work. Problem is often that that work was done in the past when isp implemented their ipv4 metodology. And instead of using the ipv6 rollout as a chance to improve their design and operations. They just add ipv6 into their ipv4 design and methodology. They encumber their ipv6 rollout with their decades of technical debt and cruft they have normalized in their ipv4 world. And it will makes things harder for themselfs when trying to turn off ipv4 in the core.
I get a free /64 and /48 directly from Hurricane Electric using their TunnelBroker and use PFSense to deploy that v6 locally on my LAN. Everything in the house has a v6 and is protected by the necessary firewalling too.
I mean, Lucifer’s fall was most likely directly after Adam was created or before that, so not really sure hookers existed yet either, as the concept of money hadn’t blighted our minds yet.
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