America Had No Credit Scores Until This Happened

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Before credit scores became a routine part of everyday life, Americans could borrow money, buy homes, and obtain loans without the three-digit number that now influences so many financial decisions. For much of U.S. history, lenders relied on personal relationships, local reputation, bank records, and subjective judgment instead of standardized credit scoring.

In this video, we explore how lending worked before modern credit scores, the events that led to the creation of nationwide credit reporting systems, and how a simple numerical rating became one of the most influential factors in personal finance. From paper records and local bankers to computerized scoring models, this is the story of how credit scores transformed the American economy.

The system millions of people depend on today is far newer than most realize.

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