We know you're good for themoney now you don't have the extra outgoings!
this post was submitted on 17 Jul 2025
1040 points (98.3% liked)
Late Stage Capitalism
1972 readers
25 users here now
A place for for news, discussion, memes, and links criticizing capitalism and advancing viewpoints that challenge liberal capitalist ideology. That means any support for any liberal capitalist political party (like the Democrats) is strictly prohibited.
A zero-tolerance policy for bigotry of any kind. Failure to respect this will result in a ban.
RULES:
1 Understand the left starts at anti-capitalism.
2 No Trolling
3 No capitalist apologia, anti-socialism, or liberalism, liberalism is in direct conflict with the left. Support for capitalism or for the parties or ideologies that uphold it are not welcome or tolerated.
4 No imperialism, conservatism, reactionism or Zionism, lessor evil rhetoric. Dismissing 3rd party votes or 'wasted votes on 3rd party' is lessor evil rhetoric.
5 No bigotry, no racism, sexism, antisemitism, homophobia, transphobia, ableism, or any type of prejudice.
6 Be civil in comments and no accusations of being a bot, 'paid by Putin,' Tankie, etc.
founded 10 months ago
MODERATORS
Canada has credit scores as well... is this a thing here too?
Apparently we have them in the UK but I have never had a reason to care. I intend to keep it that way.
So... I have a guess as to why this is. It might be entirely wrong, but it kind of makes sense to me. I would bet the bank also partially insures your home when they hold your mortgage, and so the two insurers/policies split the liability in that case. When your mortgage is paid up, the bank no longer has stake in the home and doesn't insure it anymore, meaning the full liability falls on your insurance policy alone now. So they likely raise your premiums to account for the hightened risk on themselves. That's not necessarily a justification and it obviously sucks for you, but, it does make some amount of sense IF my guess is correct.
Either way, paying off your mortgage is a big accomplishment and removes a big burden from your shoulders. So kudos on that at least.
load more comments
(3 replies)
Anecdotally I haven’t found this to be true. I’ve had mortgages, car loans, etc and times in between without debt. Credit score never really wavered more than 10-15 points.
Can you please not repost X content on lemmy?
Gotta g get that $ somehow