783
Anon tries to understand credit scores (thelemmy.club)
submitted 8 months ago by [M] to c/greentext@sh.itjust.works
245 comments fedilink hide all child comments
 
you are viewing a single comment's thread
view the rest of the comments
[–] 44 points 8 months ago (5 children)

Credit score = milkability score.

I follow the old-fashioned idea of buying things with money I have, debit instead of credit.

  • permalink
  • fedilink
  • source
  • hideshow 5 child comments
    •
  • [–] 33 points 8 months ago* (2 children)

    My credit score is nearly 800 and I've given credit card companies $0.00 but they reward me with cashback for using them. Its basically debit with rewards and more protections but you do you king

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 18 points 8 months ago

    Cashback and protections paid out of higher transaction fees, merchant raises prices to cover those costs. It's not just a magic money machine; the consumer is subsiding significant card company profits. If we all just agreed to forgo the rewards and protection there would be fewer middlemen to pay, but I don't blame you for acting greedily (I do the same).

  • permalink
  • fedilink
  • source
  • parent
  • [–] 7 points 8 months ago*

    I understand that you can benefit if you play it correctly, but can you deny that it's designed to fuck people over that don't? Idk at least to me thats why i don't even want to be part of it, even if i am doing fine with money and would net benefit, probably. I just don't want to be part of that predatory system.

    Edit: of course i am also talking as someone who grew up not exposed to credit scores at all and only ever paying debit.

  • permalink
  • fedilink
  • source
  • parent