I always laugh when people whine about China's social credit system. The US also literally has a credit score system that can completely fuck you over and you cannot opt out, either... and they're responsible for several data breaches, too.
I am guessing they are talking about credit card score which is tracked by banks and decides your loan interest, amount, etc.
I am not from US but it's a similar or perhaps the same system here as well. Some of my friends actually go out of their way to get multiple credit cards and spend on them to increase their score which is a weird and stupid system but that's just my opinion.
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.
But I don't see how that applies to employment....
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...
9 Comments
LurkingLuddite@piefed.social · 11 pts · 18d
I always laugh when people whine about China's social credit system. The US also literally has a credit score system that can completely fuck you over and you cannot opt out, either... and they're responsible for several data breaches, too.
Pamasich@kbin.earth · 8 pts · 18d
To be fair, not everyone who does so is from the US.
Can you elaborate on what you mean by this? I'm not from the US, but this sounds interesting. First time I'm hearing of it.
RogueBanana@piefed.zip · 7 pts · 18d
I am guessing they are talking about credit card score which is tracked by banks and decides your loan interest, amount, etc.
I am not from US but it's a similar or perhaps the same system here as well. Some of my friends actually go out of their way to get multiple credit cards and spend on them to increase their score which is a weird and stupid system but that's just my opinion.
Pamasich@kbin.earth · 1 pts · 18d
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.
orvorn@slrpnk.net · 5 pts · 18d
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.
nymnympseudonym@piefed.social · 2 pts · 18d
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.
Ashtear@piefed.social · 4 pts · 17d
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.
Pamasich@kbin.earth · 1 pts · 17d
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....
LurkingLuddite@piefed.social · 1 pts · 11d
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...