Varven@lemmy.world to Memes@lemmy.ml · 3 months agothe debtlemmy.worldimagemessage-square35fedilinkarrow-up1634arrow-down149
arrow-up1585arrow-down1imagethe debtlemmy.worldVarven@lemmy.world to Memes@lemmy.ml · 3 months agomessage-square35fedilink
minus-squarehumorlessrepost@lemmy.worldlinkfedilinkEnglisharrow-up98·3 months agoIf you had 34 trillion in debt and a centuries-long history of making on-time payments, you’d have a perfect credit score.
minus-squareObjectivityIncarnate@lemmy.worldlinkfedilinkarrow-up7·3 months agoYeah, this is just people not understanding how credit scores work, part #57294, lol
minus-squaredisguy_ovahea@lemmy.worldlinkfedilinkarrow-up7·edit-23 months agoCredit rating also depends on credit to debt ratio. You want to keep it below 35%, so you would need a credit line of $100T or more to have a great rating.
minus-squarehumorlessrepost@lemmy.worldlinkfedilinkEnglisharrow-up11·edit-23 months agoI think sovereign debt would work like an AmEx Platimum with “no fixed limit”, which makes the algorithm ignore utilization.
If you had 34 trillion in debt and a centuries-long history of making on-time payments, you’d have a perfect credit score.
Yeah, this is just people not understanding how credit scores work, part #57294, lol
Credit rating also depends on credit to debt ratio. You want to keep it below 35%, so you would need a credit line of $100T or more to have a great rating.
I think sovereign debt would work like an AmEx Platimum with “no fixed limit”, which makes the algorithm ignore utilization.