Credit ratings are design to do one single thing – rank consumers predict on their caliber of jeopardy to a lender.
However, the credit rating system is not impeccable. The parameters of how credit is scored are very narrow – factors such as if you pay your credit card bills on time, if you’re a homeowner and if you’re employed.
What credit ratings don’t take into account are most external factors. For example, you intentionally don’t have credit cards to evade taking on debt or that you are prosperously self-employed. All factors that make you more liable to pay back your imprest on time.