This part of the story digs into the real history of credit—one that’s way more personal and a lot more invasive than most people realize. It challenges the idea that credit is just a numbers game. Instead, it shows how credit started as a judgment of character, not money. Back in the day, whether you got a loan depended on whether people trusted you—not how much you earned.
Starting in the 1850s, businesses looked at things like how neat you were, if you were sober, or who you were married to. These opinions were written into “character reports” and shared with lenders. Over time, this turned into a massive industry where credit bureaus collected information about people by reading newspapers, visiting courthouses, and digging into people’s lives—all without asking.
Then came the 1960s and the rise of computers. Suddenly, personal info could be stored, shared, and used in ways no one saw coming. Credit bureaus didn’t just keep score anymore—they started predicting behavior and selling those predictions to companies that wanted to market to you, lend to you, or avoid you.
And get this: before Google and social media were tracking your every move, credit bureaus were already doing it. By the 1970s, your Social Security Number, which was only supposed to track your retirement, had become the master ID that linked every part of your financial life.
Here’s the bottom line: being watched and judged isn’t a glitch in the system—it is the system. Credit bureaus don’t work for you. You’re not the customer. You’re the product.
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