I always assumed credit scores were an integral and historic part of the American financial system.
They were not, they are very recent，most of your parents didn’t have credit scores growing up, and as you can probably tell or at least intuit, it’s mostly just a b******* scheme for those with capital to accrue more capital by invading your privacy.
In Europe this still doesn’t even really exists. You just bring your proof of capital/value/timely payment stubs to the bank.
Germany has SCHUFA. Fairly similar to credit reports. Pretty much necessary to successfully rent an apartment (in Berlin at least).
Though, there isn’t the expectation that you have accrued debt in order to have a good score, like in the US.
Oh, in America you still have to provide those things too, AND have a decent credit score.
Omg…
The last few times I’ve applied for credit I’ve only had to self-report my income and not dig out paystubs. I’m honestly not sure if I should be worried or happy