Class Warfare Blog

June 5, 2018

The Bizarro World of Credit Ratings

Filed under: Economics,Reason — Steve Ruis @ 1:09 pm

I monitor my credit rating because, well, it is free and it might just catch an identity thief. I was rather taken aback a couple of days ago when my FICO credit rating dropped 11 points from the last rating. I had been involved in no credit deals, nor had my credit card balances gone up, nor … WTF? So, I went to the reporting site and looked at the “event” that caused such a significant drop in my credit rating. It took some finding but eventually I found out that the problem was that I had paid off my car loan. I didn’t pay it off early or anything special, I just made the final payment on a four year deal.

There was nothing else.

So, the successful completion of a credit transaction with no black marks associated with it, proving that I was a responsible user of credit, that I met my obligations, that I was trustworthy … was a negative. And now that I no longer had a $300+ dollar car payment every month, I had that much more disposable income to engage in other transactions, if I were truly worthy, which I was not in the eyes of the people creating the algorithms of these rating services.

Welcome to the bizarro world of credit reporting and ratings. And we have given over power to these idiots to rule over whether or not we “qualify” for a credit transaction.

Keeping us enslaved in debt is part of the control mechanism that coerces our labor to serve the interests of the elites. Apparently making credit ratings incoherent is also part of the plan.


  1. But if this was the only loan you were paying, how would they know if you’re still diligent about paying your loans?


    Comment by List of X — June 5, 2018 @ 9:55 pm | Reply

    • How about the previous four car loans, the house loans, the … they keep records and the rating cannot be based solely upon current conditions … I hope … otherwise they would have quite a problem (as would we).

      On Tue, Jun 5, 2018 at 9:55 PM, Class Warfare Blog wrote:



      Comment by Steve Ruis — June 6, 2018 @ 7:47 am | Reply

  2. The system in Europe isn’t much better. You should see the hoops people have to jump through just to rent an apartment in France.


    Comment by The Pink Agendist — June 6, 2018 @ 7:02 am | Reply

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