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CuddleChunks posted:It's really exciting to know that I'll soon have a FICO score of 0 because I'll have no debt and no debt instruments in my name. I'm pretty sure FICO doesn't work that way. It'll take 7 years for everything to drop off, and very few people are better off with a 'no credit history' rating. If you think you ever might want to get a mortgage, take out a loan to go back to school, pass a background check, get lower insurance rates, or waive utility deposits, you might want to develop a slightly more nuanced view of credit. The demonization of all debt is a bad lesson to take away from Dave Ramsey. Debt is a tool. It has the potential for misuse, but it can be a very useful tool to have access to.
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Aug 21, 2012 00:36
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| # ¿ Apr 28, 2024 11:33 |
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