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Are Credit Scores Racist?
Posted on 8/24/17 at 12:18 pm
Posted on 8/24/17 at 12:18 pm
A recent report detailed the huge gap in average credit scores between African Americans and other groups, citing factors such as lower average incomes, identification issues, unemployment or under-employment and lack of home address stability as responsible for dramatically lower scores.
Is it time to revamp the entire credit qualification process as dated, unrealistic and prejudicial?
Is it time to revamp the entire credit qualification process as dated, unrealistic and prejudicial?
Posted on 8/24/17 at 12:19 pm to WMTigerFAN
If black people suck at using credit more than white people, that's not racism. It's statistics.
Posted on 8/24/17 at 12:19 pm to WMTigerFAN
quote:
Is it time to revamp the entire credit qualification process as dated, unrealistic and prejudicial?
yes. we need to go back to the housing/mortgage crisis where everyone who couldn't afford a house got one anyway and the economy collapsed as a result. It's only fair.
This post was edited on 8/24/17 at 12:20 pm
Posted on 8/24/17 at 12:20 pm to WMTigerFAN
pay your fricking bills loser.
Posted on 8/24/17 at 12:20 pm to WMTigerFAN
A number? How? You could argue how a number is used could hurt someone, but the data itself is just data.
Posted on 8/24/17 at 12:22 pm to WMTigerFAN
I wonder what will be considered racist tomorrow?
Posted on 8/24/17 at 12:24 pm to WMTigerFAN
quote:
Is it time to revamp the entire credit qualification process as dated, unrealistic and prejudicial?
You misspelled "credick".
Posted on 8/24/17 at 12:30 pm to WMTigerFAN
There's a prevailing train of thought on the left that if an outcome disproportionately disadvantages black people then the system is racist even if the inputs and the system are completely race neutral.
Posted on 8/24/17 at 12:31 pm to WMTigerFAN
the credit rating system is a joke, but not because it singles out any race.
Posted on 8/24/17 at 12:32 pm to WMTigerFAN
This post was edited on 11/8/20 at 10:39 am
Posted on 8/24/17 at 12:34 pm to WMTigerFAN
Not as racist as test scores.
Posted on 8/24/17 at 12:36 pm to WMTigerFAN
There are no pictures attached to any credit report I've ever heard of. And that's a good reason to name your kid "Steve" instead of "Sheddrick".
Also, the most over the top swank card you can get is the Black Card.
Also, the most over the top swank card you can get is the Black Card.
Posted on 8/24/17 at 12:38 pm to WMTigerFAN
no but credick scores are
Posted on 8/24/17 at 12:41 pm to WMTigerFAN
Working in banking and other financial services has shown me the true source of the problem with this issue and it is collections. Since they don't have access to health insurance they opt to go to the emergency room more often than not or doc in the box places. Sometimes they don't receive the bill because they move alot or they simply don't pay it. Being that they don't understand how credit truly works they don't see this being a consequence for them later on. This isn't just a black thing either, poor whites have the exact same problem.
Posted on 8/24/17 at 12:43 pm to WMTigerFAN
No it's personal responsibility. I DESTROYED my credit when I was in my early 20's and worked my arse off to fix it by making responsible financial decisions. It shouldn't be easy for everyone to get what they can't afford.
Posted on 8/24/17 at 12:43 pm to WMTigerFAN
Does the Pope shite in the woods?
Posted on 8/24/17 at 12:52 pm to WMTigerFAN
Gotta love the community reinvestment act to make sure them baws with bad credit can still receive then default on a loan.
Posted on 8/24/17 at 12:52 pm to WMTigerFAN
quote:
Is it time to revamp the entire credit qualification process as dated, unrealistic and prejudicial?
No. Because it's not. Next question.
quote:
lower average incomes, identification issues, unemployment or under-employment and lack of home address stability as responsible for dramatically lower scores.
Umm... shouldn't these lead to a lower credit score?
Posted on 8/24/17 at 1:01 pm to WMTigerFAN
quote:
Are Credit Scores Racist?
No. People just try to live above their financial means. And they lose track on how much they spend.
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