[afloatboat]

I got a loan for a house 2 years ago. The process included showing our 3 last pay slips, the expected cost of the house (new build) and showing the bank how much money we had in our accounts (I loaned at a different bank that gave me better rates). There was a base percentage that lowered based on your level of income and the ratio of own contribution/loaned amount.

I live in a Central European country.

[jve]

Eastern Europe: I must consent and they do check whether there are any other loans and how good I have paid them. So they do evaluate credit rating at least here.

[jisnsm]

So, credit score with extra steps, and no rewards (lower interests) for people who could prove that they are solvent and responsible with money.

[sumeno]

Having bought a house a couple times and having a 800+ credit score each time it doesn't sound like extra steps at all. I also had to provide all that information and more to get a mortgage

[LunaSea]

Well interest rates are lower in Europe than the US.

The other advantage over credit scores is that people willingly give their information out and are able to understand the banks decision.

[TeMPOraL]

> and no rewards (lower interests) for people who could prove that they are solvent and responsible with money.

That's really what's driving support for credit scores, isn't it? That they provide some some people the (perception of an) ability to prove their character, their moral superiority, and to feel rewarded for all their hard sacrifices.

Similar, I believe, to credit cards and all those rewards and air miles shenanigans - everyone feels they're gonna be winners, so they support a private tax on everyone.