this post was submitted on 21 Jun 2025
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As well as your willingness to take on debt.
No credit score (AKA living so frugally that you don't need credit) is a bad score too.
Is it though?
I work on an adjacent industry.
Lenders lend money, that's how they make money.
If you've got savings and a steady job and can offer something a house as security they're gonna lend you the money to buy thay house, even if you don't have a score.
The score as a number, and the concept of building your credit score, is really just something bankers tell you when they're trying to get you to take a credit card.
So if you have taken more loans in the past & repaid a lot of credit card debt you get a cheaper loan/can afford a bigger loan.
It's what we call predatory tactics & are usually banned.
You don't have to actually "take on debt" to establish a good credit score, though. If you use a credit card whenever you'd otherwise use cash you have on hand, and instead use that cash to pay off the card's statement balance every month (essentially just paying your month's expenses all at once instead of on demand for each expense), you're never truly in debt (read: you're charged no interest), but a credit score is established and continuously improved, via both the consistent payments, and the aging of the line of credit.
So your credit worthiness is equal to the amount of money (3% fee of each purchase?) you make for the bank that would otherwise go to the seller (or stay in your bank account if it's charged to the customer & not the store, but that is afaik rare, maybe not existent anymore).
So free monies you make for the bank = some potential loan possibility in the future.
Scammy af. But this exists all over the world (packaged as cashbacks that you regularly receive, eg 0.5% of everything you spend, not affecting your loans).