this post was submitted on 22 Apr 2024
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Given that there are plenty of developed countries where credit scores don't exist (and plenty more where they do but only for businesses), I think alternatives are imaginable. I would know, I live in one such country.
If you want a mortgage here, the bank will:
The US consumer economy is very highly dependent on short-term/credit debt, and that is absolutely crazy to me. Some Americans say they "need" a credit card to defer payment on some purchases, and as someone raised in culture where debit is king this sounds absolutely insane. Y'all have been propagandized, here it is perfectly normal to not have a single credit line open before shopping for a mortgage and if anything your banker will commend you for it.