I've never understood this American notion that just because a private company is doing something that makes it fine. If you can't get a loan and can't find out why, what difference does it make whether it was the government or a private entity that blocked you?
> Also, you avoid even having a credit score if you just pay cash for everything.
Sure, but at that point you're unable to participate in much of society, just like someone without a social credit score.
A lot, actually. It might help you to understand if you realize it's not really about the loan. It's about the political control that such opaque denials can be used to implement. A private company, especially a large public one, has a lot fewer incentives for exerting political control over its customers than an authoritarian government over its people. The private company actually has a lot of incentives for not doing so, since that kind of thing can alienate customers.
You're reaching too far for an equivalence. Yes they have "deeper," more esoteric interests, but having them limited to those rather than supporting a party-regime is a far better situation.
Private company credit scores are better than government social credit scores, even though they're not totally neutral in idealistic way. The difference is big enough for them to be entirely different animals.