This myth is the dumber cousin of ‘tax write offs generate income’.
this post was submitted on 25 Jul 2026
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I've only ever encountered this particular scenario once. (I live in Canada. I don't know if it's prevalent any where else).
But I applied for a job once, and got an interview. In the interview, they wanted to see a copy of my credit score. I left the interview immediately. All I'm going to say is it was an American company hiring...
when you close your credit card your credit score goes down.
i called one of the three credit companies and asked, "Why?" They said because it makes me very hard to extend credit to without a credit card so that makes my score go down.
...
i'm also not a very good sea captain because i'm not a sea captain but it doesn't cost me imaginary money points on my insurance premiums.
i’m also not a very good sea captain
It makes it very hard to extend maritime insurance to you. But you don't notice that because you don't need maritime insurance.
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Meanwhile people mock a fabricated Chinese social credit system that doesn't exist (I know -- I've lived there)
That's bullshit I keep a zero balance on my cards and have a perfect credit score. Car is paid off,I don't own a house and only have a couple hundred dollars of student debt.
Perhaps it's the lack of consistency in someone's life. A credit score is just a system to tell banks if your are going to be profitable or will you keep up payments for them. Paying a card off is the ultimate revenue loss for a credit card company.
Not really, people with bad credit make them the most money, they stay in the debt cycle and have higher rates. They probably cover their loss risk in the first year of a lower credit score person in interest.
It amazes me that the western propaganda keeps talking about a Chinese social credit system that is an extension of existing social rankings and ratings in China which have existed for millennia, but no one blinks an eye to this American credit system that is horrendous. The Chinese system is mainly in place for business, not so much the individual, like in the US.
The US credit system is a way to make the poor, poorer with insane interest rates that are illegal in other parts of the world. The matrix for the credit system is unclear as it is managed by private companies. The whole thing is insane, but no let's point at evil China where the system has no impact on normal people, unlike in the US.
I think you're overstating it by pretending that no one is paying attention to credit score. Especially when you say this under a post that literally points it out, it rings untrue
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+50 .ml credit
Good job, comrade. Nutomic is proud. /s
In my country you have to show 6 months of bank account history for all your accounts. You can have zero credit history and get a mortgage, they only really care what your income and regular expenses are. No credit score as such. If you've never applied for a loan, nobody but your own bank and possibly the government would know what your finances are up to.
Without a credit score, how does your country deal with wealthy people repeatedly borrowing money and not repaying it?
How does a credit score help? In my country we have a register for things like cars than you can see if any debt owed on it, so I guess tracking is on the asset side. Otherwise, wouldn't it just be fraud and the banks would take legal action? That would still produce a record that could be checked too.
Welcome to criminal offense? You get sued, plain and simple. Bank or lender sues you, and either you cooperate or your shit gets taken and if it's still not enough, you get part of your pay docked each month for x time.
In poor people cases, that goes down to minimal pay (exceptions happen if needed, for example caring for elder I believe).
Rich people have enough shit for taking most of the time that it gets resolved at first step.
Bailiffs can place an arrest their income streams and bank accounts and sell their cars and homes.
Also there's a debt registry you can be put into if you're like 3 months overdue and don't come to some kind of agreement with whoever you borrowed from. Usually the banks are pretty lenient if you go to them with a proposal to pay off the debt in small installments because it's less messy than going to court and getting a bailiff appointed
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Still not had a credit card and pretty sure I will be able to live my entire life without knowing or caring what my credit rating is.
The trick is to pay it off, but never fully. At least that seems to be working for me
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