this post was submitted on 17 Jul 2025
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When there's something about the model that doesn't make sense, find an alternative model where it does. It's often quite enlightening.
In the case of credit scores, the model you're probably thinking of is that following all the rules as written should make your credit score go up. But this is not the case. A better model is that credit score tells the bank how much money they can get out of you. They make more money from someone who is late every once in a while. That model is more consistent with reality.
This is the whole game, right here. It's their score for how they see you, with respect to exploiting your desire to purchase things, to make money. And to be clear, a big part of that math is how much interest you're likely to pay. If you keep paying things off, and don't usually carry a lot of debt, you're not as profitable a customer. The more you tend to pay interest for things, the higher your score.
Interestingly, a lot of this is not halal. Which means that Muslim banks have some creative workarounds for lending and helping their communities out. While I've never done this myself, it sounds like folks around here might find that an appealing alternative.