John Oliver On Why Your Credit Score Is Probably BS

We see credit scores reported under many job requirement listings and John Oliver in his own unique way explains why credit scores are a complete sham.

On last week's show John outlines some irregularities in how credit scores are calculated. For example, 47% of employers use those three numbers in hiring decisions, despite there being no statistical evidence of a correlation between a healthy credit score and healthy workplace habits.
"Look at me, my credit score is probably fine," Oliver says. "But I routinely waste HBO's money on stupid costumes, pyrotechnic displays, and checkered dress shirts. I clearly cannot manage this company's money well."

Oliver explains how credit reporting agencies Equifax, Experian, and TransUnion generate a high number of errors in people's scores that sometimes are overlooked. "One in four (credit reports) had an error and one in 20 were seriously wrong," Oliver says. Some of these errors include things like, um, being mistaken for a terrorist or sex offender, or being accidentally deemed dead.

"If every 20th Frosty that Wendy's sold turned out to be a cup of warm goat semen," he says, "we would want some accountability and we would want it fast." Given that credit scores can determine employment or housing, the stakes are—or should be—that much higher.

Watch the entire video attached in the link, while very funny, it's also informative.

link:http://www.fastcompany.com/3058796/the-recommender/john-oliver-on-why-your-credit-score-is-probably-bs