Earlier quoted context omitted.
Much, if not most, of the rest of the world doesn't have a credit score either.
You mean the US-style credit score, right? Because I can't imagine a country that has banks giving out loans without at least credit worthiness analyses that are essentially credit scores, but lazily computed. And lazily-computed credit score is still credit score. E.g. in Poland, we don't have "credit score", except that the bank will happily calculate it for itself whenever you ask for a loan, which means we have t…
This is exactly the function that pawn shops provide in the West, although their usage has dropped significantly since the introduction of consumer credit.