So many Americans would benefit if credit scores were not a deciding factor of a home loan, our ability to pay should be based off of our income. Credit card utilization drops our score drastically despite being current on payments and is preventing so many working class people from home ownership. People have been forced to open credit accounts to establish credit for home and auto loans then penalized when we have to use them, most people don’t have thousands of dollars to pay them off right away and have to do so over time. We need to reform the credit score system.
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I agree. Credit scores are discrimination. It makes people already having a hard time harder. Credit scores affect everything. It causes you to pay more for car and home insurance, it causes you to have higer interest on loans of any kind. Higher interest causes poor people to pay more. It keeps people from being able to get a home, a car and more.
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