Should Credit Scores Be Reformed? A Look at the System’s Flaws
Credit scores play a big role in our everyday lives. Whether you're trying to rent a place, get a loan, or even apply for certain jobs, that three-digit number can quietly decide what’s possible. It’s supposed to show how financially responsible you are, but more and more people are starting to question whether the system is actually fair or just outdated. What looks like a simple number hides a lot of problems that deserve a closer look. While credit scores are meant to predict financial reliability, the current system may be outdated, unfair, and even harmful for many people. Below, we’ll explore why the credit scoring system was created, how it works, and where it’s falling short. How the Credit Score System Was Meant to Work The modern credit score system was designed to help lenders make objective decisions. Rather than relying on gut feelings or personal bias, a score between 300 and 850 is supposed to give a quick snapshot of how likely someone is to repay a loan. Credit sco...