[jandrese]

I think the story is that the COVID stimulus checks meant that people who normally live paycheck to paycheck were for the first time showing a healthy bank balance which increased their credit score just enough to qualify. Once the checks stopped they stated defaulting.

[losteric]

Since when is bank balance considered in credit scores and checks?

[jandrese]

Since forever? Part of the assets/debt ratio.

[do_not_redeem]

I'm gonna need a source on this one.

https://www.myfico.com/credit-education/whats-in-your-credit...