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FICO to incorporate buy-now-pay-later loans into credit scores

(www.axios.com)
277 points cebert | 2 comments | 24 Jun 25 00:03 UTC | HN request time: 0.401s | source
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OptionOfT ◴[24 Jun 25 00:41 UTC] No.44361736[source]▶
What's interesting here is that normally BNPL only does a soft check.

I wonder if this is going to change.

Equally, I find it weird that companies can ding your credit for not paying but have no obligation to report on-time payments. It should be both or none.

replies(1): >>44364851 #
1. hopelite ◴[24 Jun 25 11:09 UTC] No.44364851[source]▶
Technically it is largely already built in as an assumption that payments are made on time. You also don’t lend to a friend you will not be paid back by, will you? The credit score reduction is merely a diversion from norm, i.e., the expectation that you pay what you agree you owe.

Ironically, there is actually zero reward for being a reliable person, there is only a punishment for being an unreliable person; and with all the money printing, even the punishment for being an unreliable person has been almost totally removed and being reliable and upstanding is effectively a punishment since you don’t get to live like a king on a shoe string and then declare bankruptcy and have credit extended to you immediately afterwards because money is cheapened and consequences are void.

replies(1): >>44368011 #
2. DrillShopper ◴[24 Jun 25 16:35 UTC] No.44368011[source]▶
> You also don’t lend to a friend you will not be paid back by, will you?

I don't lend to friends and family. It's not worth losing those bonds over. I'll help financially where I can, and I'm not going to stop anyone paying me back, but I'm assuming that money is just gone.

Completely different calculus compared to credit.