Thanks so much, Nikolaus! I have no idea why I didn't respond earlier...Anyway, I think credit card scores, how they are calculated and can control people's lives is a mystery that needs unraveled and discussed.
Credit scores are such an interesting concept. It's great to see spelled out how much people with means can "snowball." I.e. the more you borrow and pay back, the better and more favorable your borrowing conditions become, enabling you to borrow more, etc. Thanks for breaking this down!
A great article, Joan! I learned a lot.
Thanks so much, Nikolaus! I have no idea why I didn't respond earlier...Anyway, I think credit card scores, how they are calculated and can control people's lives is a mystery that needs unraveled and discussed.
Credit scores are such an interesting concept. It's great to see spelled out how much people with means can "snowball." I.e. the more you borrow and pay back, the better and more favorable your borrowing conditions become, enabling you to borrow more, etc. Thanks for breaking this down!