This... is not truehttps://twitter.com/TheMcKenziest/status/1300630506229264384 …
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Replying to @arthur_affect
We do not have credit scores in Switzerland. Only a registry of the times you were liable to money collection for failure to pay a debt. If you pay the debt, the entry gets removed.
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Replying to @Hyza87
Yes, but this is very different from what she means by "not having a credit score" The concept of credit *rating* exists anywhere there's the concept of credit -- it has to, otherwise all lines of credit are just free money
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Replying to @arthur_affect
Ah, I got it. But we don't have that weird US thing were it decreases if you ... do basically anything involving money.
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Replying to @Hyza87
Sigh The US system is highly kludgey and dysfunctional in many ways but this isn't actually true
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Replying to @arthur_affect
Okay, I was hyperbolic. Or I am wrong. Does requesting a credit check or applying for a credit card decreases your score in the US? Here it does not.
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Replying to @Hyza87
Applying for a new line of credit slightly lowers your score, although my understanding is the formula caps this (ten hard pulls in a row are worse than five, but it stops going up after a certain point)
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Replying to @arthur_affect @Hyza87
There's a distinction between a "hard pull" and a "soft pull" -- the former is when your credit is checked for the purpose of opening a new line of credit, the latter is when it isn't So you requesting to see your own credit report doesn't affect your score
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Replying to @arthur_affect @Hyza87
The logic is that applying for several credit cards or loans in a row is a red flag -- one that's usually offset if you actually get the new credit cards and then start paying them off consistently
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(Or even not paying them off but just not charging anything on them -- having an open line of credit in and of itself is a plus on your credit score, and adds more points the longer it's existed)
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Replying to @arthur_affect
Unless I am mistaken, here it is: 1. Income 2. capital - debt 3. Bankruptcies and unpaid debt collection However it might have to do with our very low inflation and thus debt rates. A 10 year mortgage currently costs approx. 0.5% p.a. Payday loans are not a thing (Safety nets)
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