Read: https://time.com/3961676/history-credit-scores/
This is very interesting. The oldest credit agency, Equifax, claims to have started in 1975. However, this was just a name change when they computerized old records. It is the same company as Retail Credit Company which started in 1899 in Atlanta.
While many early agencies were short-lived, firms like Atlanta’s Retail Credit Company left an enduring impact. Founded in 1899, RCC developed files on millions of Americans over the next 60 years. This information included not just data on credit, capital and character, but information on individuals’ social, political and sexual lives as well. Already a magnet for criticism, the outcry against RCC reached a fever pitch in the 1960s when the firm revealed plans to computerize its records.
In the early 1970's, computerization of credit history was controversial because it was a threat to privacy. What a quaint notion.
A numerical credit score dates back from the 1950s when Bill Fair and Earl Isaac started the Fair Isaac Company, now know as FICO. The range of scores from 300 to 850 started in 1989.
https://www.opploans.com/blog/a-brief-history-of-credit-scores/
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