There’s a difference between credit scoring and credit reporting.
Credit scoring refers to the act of reducing the entirety of one’s credit history to a single number using an algorithm.
Few people are opposed to credit histories being available to potential lenders. However many find the scoring system to be unnecessary and flawed. Lenders could just look at the actual credit history to make a decision.
Credit scoring refers to the act of reducing the entirety of one’s credit history to a single number using an algorithm.
Few people are opposed to credit histories being available to potential lenders. However many find the scoring system to be unnecessary and flawed. Lenders could just look at the actual credit history to make a decision.