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So the same now, except now all personal data is located in one place according to the rules they set, from which they can sell your data and preemptively block you or refuse to meet you to discuss your practical repayment capability.
All of those could be and were done before, only it wasn't public so you had no way to also know your score.
Your hypothesis is that before computers and data centers were used in business to cross-reference, centralize, analyze and store private and public data, and before a personal credit rating system was implemented, businesses were using cross referenced, centralized, analyzed mountains of paper files on all potential consumers nationwide, directly related to their business or not, to calculate 300+ million personal credit scores that didn't exist yet?
You're taking more than a leap, you're jumping right off the cliff.
uh.. that’s exactly how it worked. The Wikipedia page you linked mentions credit bureaus. If you go to that page you can see they were established in the USA by the mid 1800s. Yes, it was all done on paper. That’s how the world used to work.
No, that is not how it was done. Before, The time was put in to assess the relevant data your creditworthiness.
Today if you break a leg and have a hospital bill, your chances of receiving credit are automatically lowered.
There's a huge difference between being investigated for credit worthiness and automatically being assigned a score filled with arbitrary private data irrelevant to debt or credit.
Are you a racial minority? Your credit score probably isn't as good as a white guy's credit score.
https://www.federalreserve.gov/econres/feds/files/2022067pap.pdf
Assessing relevant data on an individual's debt risk makes sense.
Collecting everybody's private information so that three companies can determine, without ever meeting you or knowing anything about you, teally, the amount you are allowed to succeed or take advantage opportunities is b*******.
The 19th century credit bureaus and today's credit ratings are completely different.