Added clarification about scores/repayment odds affecting interest rates rather than ability to borrow.
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Can somehow add a layman explanation on how Americans can be so much in debt but have good "credit score" that allows them to borrow even more?

A credit score measures the risk of not making monthly payments.

That's all. Nothing more.

If a creditor thinks you're a larger risk, they'll likely just demand a higher interest rate, or some form of collateral on the loan. Assuming they're wiling to take on that risk.

Can somehow add a layman explanation on how Americans can be so much in debt but have good "credit score" that allows them to borrow even more?

A credit score measures the risk of not making monthly payments.

That's all. Nothing more.

Can somehow add a layman explanation on how Americans can be so much in debt but have good "credit score" that allows them to borrow even more?

A credit score measures the risk of not making monthly payments.

That's all. Nothing more.

If a creditor thinks you're a larger risk, they'll likely just demand a higher interest rate, or some form of collateral on the loan. Assuming they're wiling to take on that risk.

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RonJohn
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Can somehow add a layman explanation on how Americans can be so much in debt but have good "credit score" that allows them to borrow even more?

A credit score measures the risk of not making monthly payments.

That's all. Nothing more.