So far, I have had three phones signed up in my name (essentially stolen from the suppliers), can't easily get a mortgage because I own my own company, somehow making me riskier than people who earn half my income, and in the past had my credit card limit extended to £10,000 without asking when I was almost broke.
To me that doesn't sound like they're good at assessing risk at all, they're just blindly following extremely simple algos instead of knowing their customers.
The records wouldn't be rendered meaningless any way, the fundamental of a credit report is how much debt you already have and if you ever miss payments or have judgements against you. Then a lender compares that to your income.
So far, I have had three phones signed up in my name (essentially stolen from the suppliers), can't easily get a mortgage because I own my own company, somehow making me riskier than people who earn half my income, and in the past had my credit card limit extended to £10,000 without asking when I was almost broke.
To me that doesn't sound like they're good at assessing risk at all, they're just blindly following extremely simple algos instead of knowing their customers.
The records wouldn't be rendered meaningless any way, the fundamental of a credit report is how much debt you already have and if you ever miss payments or have judgements against you. Then a lender compares that to your income.