In a recent LinkedIn post, entrepreneur Simon Squibb has sharply criticized the modern credit scoring system, arguing that it functions not to help individuals, but to control and exploit them. Squibb, known for his work in business and investment, shared his perspective after receiving an email that seemed to frame debt as an achievement.
The Gamification of Financial Control
Squibb’s critique centers on the idea that credit scores have become an inescapable aspect of daily life, a far cry from their limited presence when he left England 20 years ago. He contends that the system, as it stands, encourages debt and rewards those who carry it, regardless of the individual’s financial well-being.
“Your credit score is not there to help you.”
He elaborates on how pervasive the system has become, impacting fundamental aspects of life. “Whether it’s to have a roof over your head or even just order a pizza,” Squibb writes, “You’re ENCOURAGED to take out a loan.” This encouragement, in his view, is not a service but a mechanism for these private companies to increase their own utility derived from an individual’s financial entanglements.
Punishing Those Most in Need
A core tenet of Squibb’s argument is that the credit rating system disproportionately harms the very people who are most vulnerable and in need of assistance. He posits that the system has been deliberately designed to “gamify financial control,” where accumulating debt makes an individual more valuable to credit agencies.
“The more debt you carry, the more useful you are to them.”
This leads to a situation where individuals without debt are subjected to unnecessary hurdles for basic life functions. As Squibb points out:
“And that’s why, without debt, they make you jump through hoops just to live a normal life.”
A Call for Systemic Change
The entrepreneur’s frustration culminates in a bold proposition: the outright abolition of the credit rating system. He states that if he were in a position of power, such as Prime Minister, this would be his immediate action.
“If I were Prime Minister, I’d ban the credit rating system tomorrow.”
Squibb believes that the current system is fundamentally flawed because it penalizes those who are struggling financially and may need support the most. His post serves as a strong statement against what he perceives as a predatory financial structure that prioritizes corporate interests over individual well-being.
📝 About This Content
This article is based on insights shared by Simon Squibb on LinkedIn.
📅 Originally posted on November 24, 2025 | View original post on LinkedIn →