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Date: Tue, 12 Nov 2002 12:33:57 -0800 (PST)
Hi all,
great, this overhwelming response to my questions
about credit history. Thanks to everyone who
responded!
What a pain all of this is, and what an interesting
cultural pheonomenon.
One more question:
Does anyone understand who actually benefits from all
of this, and how? Certainly not consumers; but do
creditors really gain anything from it? Do they
actually believe that giving loans and credit only to
people who have a certain kind of track record with
the three American credit bureaus will minimize their
risk?
I used to have a Brazilian roommate and an Indian
classmate who both had figured out how to lie
effectively on their credit card applications, and
they got good cards with no annual fee and the first 6
months 0% interest. The Brazilian guy said when he
applied over the phone, the customer representative
caught on immediately and helped him to pick the right
numbers for a successful application.
On the other hand, I have American friends who have
lived here all their lives and have a hard time
getting a credit card.
Leonore
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Received on Tue Nov 12 2002 - 21:58:40 PST
