Financial credit vs social credit

If you went into a bank and wore a mask, but calmly ask the bank manager to carefully review your credit rating (from Equifax, etc.) and to consider your assets (house, car, etc.), he would likely give you a loan.

The bank manager doesn't really care what you look like, as long as your "financial credit" looks fine.

However, something new today is emerging: social credit or social capital.

Stephen Covey called it "emotional bank account" but I think it's more than just emotional: it's how you socially (even in cyberspace) interact with other people, in a way that builds trust and boosts your credibility.

Over time, as trust and credibility builds up, it makes it much more likely that the other person will trust you and will do business with you (or give you job or contract opportunities).

Financial credit is built by your financial history, that is, how you behaved financially: paying debts promptly and in a timely manner, etc.

Social credit is a little more complicated, but also more fun. It's how you helpfully interact with other people. It's how you go out of your way to be of service. People tend to remember who did favors for them. It's the universal principle of "reciprocity": we tend to help people who helped us in the past.

Why is social credit important?

Because that's the way to multiply business / job options. You never know where your next big business or job opportunity will come from.

Building your social credit is like getting an insurance or preparing for your big business opportunity, which will come sooner or later.