Joey Graziadei, fiancée living with her friends after she quit her job, his credit score tanked

[hewontgo]

‘Bachelor’ star Joey Graziadei, fiancée living with her friends after she quit her job, his credit score tanked https://t.co/bibrQkjgTL pic.twitter.com/fsJUlSJ30N
- Page Six (@PageSix) June 13, 2024
Joey Graziadei, 29, admitted that his credit score tanked while he was filming and he’s now living with his fiancée Kelsey Anderson, 26, and her friends

Comments

[therearewords]

I will never not be baffled by 'credit score'. I think England has it as well? Why?

[hellojeds]

There's even one in Germany: https://n26.com/en-eu/blog/how-to-get-schufa-score

[therearewords]

What the heck, Germany.

[manu19]

It’s really not remotely the same thing though.

[hellojeds]

I agree but there's no credit score mechanism at all where I live, so I was surprised there was one in Germany. Many landlords ask to see it and it can take years to build it up. Having no score can be negative.

[beignet]

same, although I feel like it probably exists everywhere within banks, like if you want to get credit. I don't understand why it's necessary outside of that, though.

[therearewords]

Oh, large debts are registered here as well, but in the "you're going to have pay top shelf if you really want this loan", not in "you can't even enter the bank".

*hyperbole

[syvlie0o0]

It is both good and bad. The credit score opened up the possibility of getting credit for millions and millions of more people, as it was an impartial way to judge someone's financial stability, as opposed to banks just saying "Nah, no credit for black people."

Did it work out perfectly? Of course not, but it's a better system than before.

[ty]

This is a good article
https://time.com/3961676/history-credit-scores/

[alwayspolaris]

A lot of countries have it, unfortunately. It makes a small amount of sense, but is usually handled poorly. Looking at your past financial history to see how likely you are to be able to pay bills/rent/pay off loans and credit cards is somewhat reasonable, but it can be difficult to build at first, looks back way too far (should not include debt or defaults from many years ago even if you're still paying them off), and includes debt (like medical debt) that is not a person's fault. It usually hurts low-income and poc renters and borrowers because that's how it's built :/

The US is moving to get medical debt out of scores, but I also think student debt, and anything that happened as a teenager in general, shouldn't be allowed to kill scores. We need more financial literacy so people can build credit before they move out on their own.

[therearewords]

Thanks!