Quote:
Originally Posted by Anh_Minh
We manage without "Credit Score". Though we do have to provide evidence of being employed. And of how much we make.
And apparently, our paperwork is worse... Also, there's a strict, legal limit to how much we can borrow based on our income. And the possibility of being blacklisted by the banks - that means no check or debit card.
I'm not saying our system is better. But it is possible to lend and borrow without looking to deeply into people's history.
And I'd just like to note that your Credit Score system didn't save us from the financial crisis. |
that is because the banks were ignoring the credit score when they made all those loans. If the loans were made strictly in accordance with risk management which includes the use of Credit Scores this whole mess might not have happen.
As one of the poster on page you link to. The French system seems more like the Chex system for American banks. However i did note that the blogger said that if the French were aware of how much she had in student loans, she would not be able to get loans in France. So to me that means the French do have some sort of credit score system. Not the same as ours but they are tracking how many loans a individual has and how big they are.