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.
Bank-internal credit scores existed since 1965 at Citibank… Then some Citibank employees formed their own company, FICO, to sell scores to banks without data or computing power to do so