I have also had this experience. Renting a car is very strange in that regard, but other car rental businesses are happy to take my business with a refundable security deposit, so not my problem.
In fact, I find it strange and shortsided, because the people without credit are generally going to be the people who have less of a hard time fulfilling their payment obligations.
Other than that, it has never affected my life. You can get a manually underwritten mortgage still today.
There is always someone else who wants your money more.