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Someone wantint zero score - how would you respond?

Community Leader
Senior Contributor

Re: Someone wantint zero score - how would you respond?


StartinOver wrote:

wow 909.

 

I never said I asked them what their score is. I told him something happened, I don't know what, and my score just jumped over 200 points. His response was he wished he had a score of zero. I think he meant he wished they didnm't even track him.


As you can see, there are lots of different guesses as to what your friend might have meant.  There's no good way to know how best to respond until you know for sure what he meant.  So I'd ask him.

 

If he means that he'd like to have credit accounts (e.g. a credit card or maybe a loan) but he wants his creditor to not report them to any of the big three bureaus, that's not going to happen.

 

If he means he'd like to have no accounts all listed at the big three, and is willing to have no credit cards or loans, then he needs to close all the accounts listed on his three reports.  The accounts will likely remain for ten years, but he will stop having a FICO score after six months.  Having no score is different from having a score of 0, as more than one of us has explained.

 

There are other things your friend might have meant, which other commenters have taken guesses at.

Frequent Contributor

Re: Someone wantint zero score - how would you respond?

He would like to never be tracked. I don't believe he has any accounts for anything except a home mortgage. Anything else they pay cash for, including their vehicles.

 

I really didn't expect the reactions I received from my post.

4/25/11 FICO: EQ 761....EX 770.....TU 744
3/6/2011 FICO: EQ 710... EX 718... TU 710
09/09 FICO: EQ: 525
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Community Leader
Senior Contributor

Re: Someone wantint zero score - how would you respond?


StartinOver wrote:

He would like to never be tracked. I don't believe he has any accounts for anything except a home mortgage. Anything else they pay cash for, including their vehicles.

 

I really didn't expect the reactions I received from my post.


Since he has an open account (in his case an open mortgage) that account will continue to be reported to the big three bureaus as long as it remains open.  When it closes (i.e. when he finally pays it off) the account will remain on his reports for another ten years, during which time the bureaus will have information on him.  6-7 months after it closes, he will cease to have a FICO score (assuming that the mortgage company never submits an updated record after it closes).

 

So for a very long time (until he pays off the mortgage) he will have a FICO score.  Shortly after that he will have no score but still have credit information at the bureaus.  Ten years after that his reports will finally become empty.

 

All that is just info about how things work with the big three (EX, EQ, and TU).  If he would like never to be tracked by any database in the world, he's probably going to have to face the fact that this won't ever happen.  Just the opposite.  For good or for ill, we are moving into a world where everyone in industrialized countries will be increasingly tracked: by corporations that sell products, by Google, by Facebook, by Lexis Nexis, and by state and federal governments.