Firstly, this social credit idea, as it is right now, not great not terrible.
It would be GREAT to have a system rewarding citizens for doing good deeds such as donating blood, to charity, helping the local neighborhood.
It would be GREAT to offer better interest and easier access to credit to those with better financial history.
If I were to add my own thoughts, I'd say people who would pass a test of basic economics and political science should be given greater voting rights. (Im aware that you can find a world class education for free online but there should nevertheless be some system to verify you are not a complete troglodyte.)
HOWEVER, such a system CAN and WILL be easily exploited by those in power to persecute those challenging them.
Not to mention the fact that any self respecting citizen isnt going to like the idea of some jerk off politician in Beijing (or wherever) telling them how to be a model citizen, no matter how well intentioned it may be.
Therefore, in an ideal world, I think the punishment to reward ratio of this system should be skewed in favor of the reward.
Denying people transportation, financing and jobs on the basis of some petty crimes such as JAYWALKING, cheating in FUCKING VIDEO GAMES, not helping the elderly and whatnot is absolutely batshit insane and well on the way to being TYRANNICAL.
And this is even without considering that this system will persecute anyone who doesnt support the CCP, which is obviously its main purpose.
This was never about helping the fucking elderly, improving your fucking community or bettering society in general.
This is about POWER, plain and fucking simple.
The top politicians in China, who live an elite life of excess and commit a whole plethora of their own transgressions that go unchecked, will use this system to maintain political control over the country so that some other circle of rich cocksucking politicians dont take over.