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.
I have to imagine credit ratings are fairly ubiquitous, since banking is international, and who’s giving the money out? Would make no sense to penalize someone for having a lot of available credit. Maybe if you have 10 cards with low available credit, and they’re all maxed out and you’re just paying minimums, that’s bad. That’s bad in America too. Amount of available credit less amount of credit used seems to be a big factor.