Credit Scores Went Up in Pandemic. Now, More Borrowers Are Slipping. by 6IXSTRINGJACK

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Credit Scores Went Up in Pandemic. Now, More Borrowers Are Slipping.

POSTED BY: 6IXSTRINGJACK
UPDATED: Wednesday, July 12, 2023 21:48
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Wednesday, July 12, 2023 9:48 PM

Stimulus checks and loan deferrals drove up scores, making it harder to tell who is creditworthy

https://www.wsj.com/articles/credit-scores-went-up-in-pandemic-now-mor
e-borrowers-are-slipping-cc9a1be4?mod=hp_lead_pos11

Archived Link to avoid paywall: https://archive.ph/uNGYd

LOL

What do they pay these people who figure out the credit scores for?

This isn't something that should only be scored correctly when times are good and things are working right.

Just look at that graph. *sigh*

That's a huge hecking mistake. We haven't even really begun to see all of the housing foreclosures and car repossessions yet, and we're already seeing credit card defaults from people who shouldn't even have access to credit going that high?

At least the folk who had well over 800 before the plandemic aren't defaulting any more now than they were before. I don't need my creditworthiness being questioned because some pindick pencil pusher with a college degree doesn't know how to math.

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