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You could have credit scores that are designed to help people instead of the current mess where nobody can even tell you how it's calculated. The concept of a credit score is very different from what we have implemented in the United States. There's effectively zero transparency into how it works.

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That's fair. I just think saying "credit reporting should be illegal" is throwing the baby out with the bath water.

Which countries use credit scores? I didn’t know it was a widespread thing, I always thought it was an American deviation.

Here in Sweden we don’t have it. When you apply for a new loan the bank can request information of other debts you have. And you have to send info about your income and answer questions about your expenses (living costs, number of children living at home, etc).

We do have credit scoring, but I don’t think it is in the same sense as in the US though. If you look at ”your” UC (for example using the app Kreddy) you will get a credit score back.

Doesn’t that create a de facto credit score?

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