Originally Posted by
wiggin
You do realize that lenders had essentially zero information about your willingness to pay back loans promptly and in full. Sure, you could have showed them your paycheck and argued that it would be easy for you to cover the loan, but that merely answers the question of whether it's in your capacity to pay it back, not whether you actually will.
Credit scores are not panaceas, nor do they pretend to be. But they're right in arguing that they can't assign a meaningful credit score to someone with little to no credit history; what they're measuring requires data.