That take is just so far from reality it's bonkers. People with high credit scores tend to a) not take on as much debt, and b) get significantly better interest rates when they do. The last time we switched mortgage providers, our mortgage broker said our credit scores were probably the highest he'd seen in over a decade of doing this, and he went back to the lender and negotiated an extra half percent lower interest rate than what they offered, which was already below prime. Credit score is a measure of risk, that's all. If you're high risk of default, they charge a premium. People with high credit scores tend to borrow money for things that improve their financial situation in the long run: student loans, mortgages, and a car loan for a modest car to get them to work. Maybe a loan to start a low risk business, like an electrician. People with low credit scores borrow money to buy smartphones, TVs, decked out pickup trucks, and even doordash orders. i.e. stuff that has no payback.