Just fuck no credit card needed
As the WSJ said at the time, the changes are expected to boost consumer lending, especially among borrowers shut out of the market or charged high interest rates because of their low scores."It expands banks' ability to make loans for people who might not have qualified and to offer a lower price [for others]," said Nessa Feddis, senior vice president of consumer protection and payments at the American Bankers Association, a trade group." Perhaps the thinking went that if you a borrower has defaulted once, they had learned your lesson and will never do it again.
The service is one of the most accessible electronic payment methods in the industry because it allows anyone with an email address to sign up to send and receive payments from other individuals.
Additionally, Pay Pal has a “merchant services” division that allows businesses of all sizes to accept credit card payments, much like a normal merchant account.
Unfortunately, empirical studies have shown that that is not the case.
Now, nearly three years later, in the latest push to artificially boost FICO scores, the WSJ reports that "many tax liens and civil judgments soon will be removed from people’s credit reports, the latest in a series of moves to omit negative information from these financial scorecards.
Back in August 2014, we reported that in what appeared a suspicious attempt to boost the pool of eligible, credit-worthy mortgage recipients, Fair Isaac, the company behind the crucial FICO score that determines every consumer's credit rating, "will stop including in its FICO credit-score calculations any record of a consumer failing to pay a bill if the bill has been paid or settled with a collection agency.