When credit score scores had been invented just some many years in the past, they had been hailed as a method to democratize lending. Immediately, they’ve turn out to be so important that not having one can lock you out of every day life. Having a low rating could make life difficult, too.
These scores have an extended historical past — and numerous issues. On this video, we’ll present you the place they got here from, how they’ve modified through the years, and clarify what that three-digit quantity means for you.
This video is offered by Secret. Secret doesn’t have a say in our editorial selections, however they make movies like this potential.
You’ll find the video above and all the library of Vox’s movies on YouTube.
Contributions are a key a part of the way forward for Vox
Readers depend on Vox for clear, nuanced protection that not solely illuminates the problems, however poses options, too. And we depend on assist from our readers: Promoting and grants cowl nearly all of our prices, however we rely on contributions to assist us shut the gaps in our finances. In reality, we’re trying to attain 95,000 particular person contributions earlier than the top of the 12 months. Will you make the following contribution proper now? Our common reward is simply $20 — and it goes a great distance in serving to us maintain our work free. Vox is right here to assist everybody perceive what’s shaping the world — not simply the individuals who can afford to pay for a subscription. We imagine that’s an essential a part of constructing a extra equal society. Be part of that mission by making a contribution immediately.
Sure, I am going to give $5/month
Sure, I am going to give $5/month
We settle for bank card, Apple Pay, and
Google Pay. You may as well contribute through
![](https://cdn.vox-cdn.com/uploads/chorus_asset/file/22734206/paypal_logo.png)