Meet the Old/New Slave Masters

I find it quite ironic sometimes when people or a group of people tends to blame their circumstances on a few.  Regardless of how true it may be or how perception makes it appear true one thing is for certain.  We jail people for selling drugs on the street but reside in a country that is the biggest supplier of drugs and we claim that government and politicians control the blood flow of a nation when we know that this is not the case and clearly see examples of these very people and entities being controlled by that one group of men/women who cater to or control that one huge slave master we all serve whether we wish to or not.  That slave master is those who created and control the algorithms’ which create and measure all human being s by what we refer to as a credit score.  So let’s take a few minutes to greet our slave masters and take this time to appreciate what we have allowed them to do to us.

Now we know that no credit score or any piece of paper can truly measure the worth of anyone yet since this nation is a debt-driven one, we are all subjected to the arithmetic yearnings of those who control how credit scores work and let’s not get it twisted, how you were educated on them before is not how they are right now.  If you ever noticed, when the housing boom was going and predatory lending was the thing to do, individual walking around with a 600 credit score were seen as A+ borrowers and could get the best interest rates and loans that didn’t even need to be verified but it is not the case today and those who may have enjoyed the luxury of credit then, are left in the dust now.  A few days again, commercials had placed ideas in the heads of consumers that a 700 credit score is all you need to enjoy the past benefits of excellent credit but those commercials have changed and it appears that these benefits are now only offered to those with 720 credit scores.  Back in the day, the differences between the three top credit reporting agencies was something close to a few points apart but today, they are a difference between night and day.

We were told that in order to achieve that perfect credit score one needs at least four lines of credit and it was even divided between installments, revolving and mortgages, now we are told that it is dependent on the credit limit and the preposition of that credit used, so in other words you need to have less than forty percent of the credit limit used but who in American truly pays attention to the percentage of credit you use because if you got it, you will use it.  The only thing that stays literally the same is the old adage that you must make your payments on time which is also outside of your control because you do not report directly to the credit agencies when you make your payment, your debtor does and if they fall behind or transpose numbers, you now have a problem, you didn’t create and we all should know how very difficult it is to get your report fully corrected.

Here is an example of how what you may have thought about your position dealing with credit scores is good only to find out a few days later that it is not.  Three days ago, this individual’s Transunion credit score was around 646, Equifax was around 628 and Experian around 637.  To raise it and make it better, it was requested that she apply for and get accepted for another line of credit.  She did and looking at her credit score now we find Transunion dropping 2 points to 644, no appearance of the Experian score and Equifax dropping 69 points to a 559.  Is there any more that really needs to be said except Ya sa Ma sa?