A standard US credit score system may seem to be similar, but there are some important differences:
- a person has access to their file
- there are ways to correct mistakes on file, should any be found
- scoring algorithm is more or less known
- a person has access to their file
- there are ways to correct mistakes on file, should any be found
- scoring algorithm is more or less known
Also:
- it's limited in scope to financial accounts.
The end goal of the Chinese system appears to be to rate you on nearly every aspect of your life, which is quite different.
So from the US point of view, a "social credit system" seems backwards in a "been there, tried that" kind of thing.
As far as i know, even if you have a terrible US credit score, you can still buy a train/plane/bus ticket to travel outside of your city, you can still buy mobile phone contracts, start a business, buy property, send your children to a private school etc etc.
The SCS in China will punish the individual by restricting these things.