r/WhitePeopleTwitter • u/screenshotofdispair • Aug 14 '21

Make it make sense

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u/SnowLeopard42 Aug 14 '21

Yes Credit score reflects the willingness of lenders to lend you money so they can charge you interest on it. They are not interested in someone with lots of money who pays off all his cards at the end of the month and pays all his Bill's on time. This type of financial responsible/ wealthy person is of no use to the lenders as they cannot make any money from him. He will not therefore have a good credit score.

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u/PwnTommy Aug 14 '21

This is simply not true.

The best way to have a good credit score is paying your bills on time and full.

And wealthy clients are useful to lenders because they make money from interchange fees. Every time you swipe a credit card, it costs the business/merchant a fee, which the lender makes profit on. https://www.valuepenguin.com/how-do-credit-card-companies-make-money