minus-squarecheesebag@lemmy.worldtoToday I Learned@lemmy.world•TIL personal credit scores only started in 1989linkfedilinkEnglisharrow-up6arrow-down15·9 months agoIf you ask someone to loan you some money (a line of credit), they might reply: “Hmm, has anyone else loaned you money before, and you paid it back, showing you can be responsible with a loan?” Even if it’s just a friend asking for you to spot them $50, you might ask a mutual friend if that person actually pays them back. It makes sense that not having a credit history is negative for them. linkfedilink
If you ask someone to loan you some money (a line of credit), they might reply:
“Hmm, has anyone else loaned you money before, and you paid it back, showing you can be responsible with a loan?”
Even if it’s just a friend asking for you to spot them $50, you might ask a mutual friend if that person actually pays them back.
It makes sense that not having a credit history is negative for them.