this post was submitted on 21 Feb 2024
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Today I Learned

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I always assumed credit scores were an integral and historic part of the American financial system.

They were not, they are very recent,most of your parents didn't have credit scores growing up, and as you can probably tell or at least intuit, it's mostly just a b******* scheme for those with capital to accrue more capital by invading your privacy.

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[–] jadedwench@lemmy.world 7 points 8 months ago (2 children)

I will just leave this here. Your employers can snitch on you as well and just give all of your paystubs to...Equifax. It was shocking to see which ones did and which ones did not.

https://employees.theworknumber.com/employee-data-freeze

[–] COASTER1921@lemmy.ml 6 points 8 months ago (2 children)

The first time I saw this I was shocked. Every single paycheck of mine is there and there's basically nothing you can do about it without having negative credit impacts for having manually disabled it. Why on earth is this opt-out rather than opt-in? Then it wouldn't look like you're trying to hide something if you value your privacy at all.

It's crazy this is legal. So dystopian.

[–] jadedwench@lemmy.world 3 points 8 months ago (1 children)

I disabled that shit the moment I found out a few years ago. As far as I know it is only potentially an issue if a landlord or something wants to see it and isn't tied to your credit score. I don't give a shit right now anyways as my credit is good enough. If I need to give someone access to it, and it makes sense, sure, but I would rather hand over a copy of my W2 or paystubs personally.

It is entirely messed up that it exists and most people don't even know about it. Dystopian nightmare indeed.

[–] dangblingus@lemmy.dbzer0.com 1 points 8 months ago

Because the ruling class wants us to be controlled. Life's just peachy if you're rich.

[–] intensely_human@lemm.ee 1 points 8 months ago

So we have this massive quasi-public organization that gathers tons of personal data and then protects it with lousy security. Great.