The filthy secret (are you sitting down?) is this: Loan interest rates are based on credit scores.
See “variable pricing” (now known as risk-based pricing) on creditscoring.com, circa 1998.
Before that 2010 shocker from ValueClick, in a typical introduction, the piece states, “It is a deciding factor for landlords in picking renters and some employers use credit scores to find dependable workers.”
That rumor has a friend at Forbes (named Forbes). Recently, Fair Isaac myFICO.com service namesake Suze Orman showed up and talked to a Forbes family member and did the deed.
Sloppy, sloppy, sloppy, New York. And, there is a typographical error. The ValueClick story says, “It determines the cost of majorpurchases[SIC] like cars and homes.”
At least they didn’t use the word even.