[gremlinsinc]

I wish getting bank credit was that easy (made bad choices in my twenties, paid well into my thirties for that)...

I could easily just buy up some account that has good credit since it's all anonymous, no way to know if the original 'good credit' actor is the same person now applying for the loan.

[AnthonyMouse]

Having "good credit" would imply doing something like having paid off six figures in student loans or the mortgage on a house, which requires paying many thousands of dollars in interest, so that credit history would have a high market value and defaulting on a loan taken against it would destroy that value. So that system would work fine -- it might cost the bank money to go through the inconvenience of foreclosing on a house, but it would cost you just as much for the good credit you destroyed in doing it, so it's symmetric and people would have an adequate disincentive to do that.