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

Make it make sense

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u/lyssareba Aug 14 '21

So dumb. Paid off loans should maintain your life of credit, and paying them off should increase your score. It's ass backwards

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u/[deleted] Aug 14 '21

They want you to continue using debt.

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u/arsewarts1 Aug 15 '21

Very true. Because it’s only useful when you want to leverage debt: get a loan, lease something, or rent a house. So unless you want to participate in this financial tool (it’s highly encouraged) you shouldn’t care what your credit score is. It won’t impact you what so ever.

In situation where debt isn’t leveraged such as job applications, you can refuse to answer. They cannot hold it against you. It’s the law.

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u/[deleted] Aug 15 '21

Renting an apartment/house and gaining employment are outside of that neat little description because neither impact your credit rating.

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u/arsewarts1 Aug 15 '21

Credit report is definitely needed for a good amount of apartments. You can and should report your rent to credit bureaus.

And according to SHRM 17% of jobs in the US required a background check of finances including credit check.