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

(www.axios.com)
277 points cebert | 1 comments | 24 Jun 25 00:03 UTC | HN request time: 0.252s | source
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thomascountz ◴[24 Jun 25 15:28 UTC] No.44367270[source]▶
I left the U.S. several years ago and have completely forgotten about "credit scores" in this sense. I get reminded every once-in-a-while how things that used to feel so obvious and inevitable and necessary for society to function are completely artificial.
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LeafItAlone ◴[24 Jun 25 15:49 UTC] No.44367497[source]▶
Where are you now? And what is the system like there?

From my extremely naive understanding, obtaining credit and low rates is, in general, much easier in the US than other places. So it makes sense to me that it has “artificial” tools to help determine risk. How do other countries handle this and provide the availability that can be found in the US?

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1. dsign ◴[24 Jun 25 15:59 UTC] No.44367611[source]▶
Can't speak for every country, but in Sweden for example tax data to a certain level of detail (income by labor, income by capital) is publicly available for each citizen. Same for debts. And debts that go to the collection authority, which has a very dark name (kronofogden), are very public and somewhat worse than having to wear a scarlet letter. So credit institutes have enough of an idea of your finances to decide your rate.