I don't think that is controversial. It makes sense to me.
My ideas are likely more controversial, though:
I think building and maintaining credit should be transparent. No secret formulas.
I think it should be possible to build credit simply by paying your bills and rent on time, possibly adding some money saved as well. Living well within your means doesn't build credit and it should.
One should have to report people's credit to all credit agencies. This process should be simple, and ideally handled by a government clearinghouse or other agency that the credit agencies split the costs for. This does make more than one agency somewhat redundant, but I think for the American landscape it is a better option than simply using the one agency for everything.
And lastly, I think we should require companies to report timely payments if they report untimely payments. Otherwise, even those accounts going to collections cannot be reported as bad debt. This helps the previous point about being able to build good credit simply by living within your means possible, yet lets folks that have never paid a bill have zero credit.
My ideas are likely more controversial, though:
I think building and maintaining credit should be transparent. No secret formulas.
I think it should be possible to build credit simply by paying your bills and rent on time, possibly adding some money saved as well. Living well within your means doesn't build credit and it should.
One should have to report people's credit to all credit agencies. This process should be simple, and ideally handled by a government clearinghouse or other agency that the credit agencies split the costs for. This does make more than one agency somewhat redundant, but I think for the American landscape it is a better option than simply using the one agency for everything.
And lastly, I think we should require companies to report timely payments if they report untimely payments. Otherwise, even those accounts going to collections cannot be reported as bad debt. This helps the previous point about being able to build good credit simply by living within your means possible, yet lets folks that have never paid a bill have zero credit.