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Someone wantint zero score - how would you respond?

Frequent Contributor

Someone wantint zero score - how would you respond?

My coworker is early 40's and is an engineer. His wife a nurse. They have done flips on houses every few years. They are excellent with not spending money they don't have and are very frugal. They have excellent health. They drive old cars because he can fix everything. They have 7 kids, though half have left home.

 

How would you respond to someone saying they actually want a credit score of zero and they have no idea what their score is?

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
Message 1 of 13
12 REPLIES
Valued Contributor

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


StartinOver wrote:

My coworker is early 40's and is an engineer. His wife a nurse. They have done flips on houses every few years. They are excellent with not spending money they don't have and are very frugal. They have excellent health. They drive old cars because he can fix everything. They have 7 kids, though half have left home.

 

How would you respond to someone saying they actually want a credit score of zero and they have no idea what their score is?


Really no reason to know your score if you have no issue getting loans or credit cards at preferred rates. Sometimes ignorance is bliss. Why obsess over something that does not appear to be negatively impacting ones lifestyle. I never knew my credit scores until 2014. Knowing them has not changed my behavior - still allow all cards to report balances naturally on statements and PIF the statement amount.

 

As far as wanting a credit score of zero - well that's not possible. No doubt your coworker is profiled and scored in a variety of ways. Not much likelihood of being invisible. If your coworker takes out short term loans to purchase/renovate a house prior to flipping he and his wife will have a credit score and they actually should have a pretty solid score if they want to have an easy loan approval process at the best rates..

Fico 8: .......EQ 850 TU 850 EX 850 (3/2017)
Fico 9: .......EQ 850 TU 850 EX 850 (3/2017)
Fico 4 .....:. EQ 804 TU 823 EX 830 (3/2017) EX Fico 98: 839 (3/2017)
VS 3.0:...... EQ 832 TU 832 EX 832 (3/2017)
Fico 8 BC:. EQ 887 TU 899 EX 900 (3/2017)
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950 (4/2017)
Message 2 of 13
Senior Contributor

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

When you say want a credit score of 0, I'm assuming what is meant is that they don't care if they have a credit score and/or they don't want a credit score as they never intend to use credit.

 

I'm of the opinion that it's better to have it (good credit) and not need it than one day need it and not have it. 

 

It takes very little to generate a credit score and a very good one within a year or so and takes next to no work to maintain it for years on end just by a simple swipe of a CC on occasion for a small purchase.

Message 3 of 13
Community Leader
Senior Contributor

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


StartinOver wrote:

 

How would you respond to someone saying they actually want a credit score of zero and they have no idea what their score is?


I'd respond the same way I always respond anytime someone uses a phrase in a baffling and enigmatic way.  Namely I'd ask them what they mean.  In this case, what do you mean when you say you'd like a credit score of zero?

 

If they literally mean they like a FICO or Vantage score of 0, you can explain that they'll never get what they want.  You can have no FICO score at all, and it's easy to advise them on how to achieve that.  But that's not a score of 0.  If they do have a FICO or Vantage score, it will be at least 300.

Message 4 of 13
Valued Contributor

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

Don't have any credit for years and it could disappear where you can't see it but that's about it. I assume a young person for example that had no credit ever might be considered zero but I'm not sure. But once you have it I don't think it ever gets to zero regardless how much a person screws up. But why? Who wants that.. I'm sure some filthy rich people don't care..

Amex Green • Amex BCP • Amex HH (Surpass®) • Barclay Rewards • Chase World of Hyatt • Capital One Quicksilver • Discover it • PENFED Platinum Rewards • Marvel MC • Amazon Store • Kohls Store • CL $92,130 • Car Loan (PENFED) 1.99%

FICO® 8 Scores 790+
Message 5 of 13
Regular Contributor

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

I'd ask them about their plans for the rest of the summer. What their kids are doing this Fall.

My guess is that this person thinks that a conversation on credit scores is not interesting and they'd like to move on to a topic that is interesting. They appear to be doing okay in terms of credit. Maybe they'd like to discuss something different despite the fact that you seem to be very interested in discussing their credit scores. Credit scores are actually terribly boring. I don't recall ever discussing them with anyone other than a lender or partner.
Fico 8 Scores
10/2017: EQ - 823; TU - 835; EX - 824; Seven CCs ($125,500 CL, 0%-1% UTIL); AoOA = 15.5 years; AAoA = 60 mos.; AoYA = 18 mos.; one mortgage; one car loan; derogs from 2009 and 2010 now gone after 7 years. It's taken a few years but credit scores are now good after starting in the high 500s back in 2011
05/2016: EQ - 712; TU - 706; EX - 710
11/2015: EQ - 694; TU - 651; EX - 653
5/2015: EQ - 640; 11/2014: EQ - 653; 05/2014 EQ - 653; 11/2013: EQ - 645; 05/2013: EQ - 656;11/2012: EQ - 646;
Message 6 of 13
Established Contributor

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

Boredom, ambivalence, and lack of curiosity have been hinted at or expressed so far.  I'd like to add "animosity" as another possible ingredient, whether on it's own or in combination with something else.  As someone else suggested, asking "what do you mean by that" may help get to the root of this.  "Arrogance"/"confidence"/"resourcefulness"/"demonstration of value", etc, etc, etc.  

 

Also, Thomas_Thumb had a great point straight off.  Not everyone cares to know how things work, the same way they don't need(or in many cases, even care) to know how electricity works. 

 

Also, if by chance you ever caused them to imagine paying for their credit score, it would likely cause some people to react in such a manner, even if not the case here.  But like the electricity(whether the direct current of Edison, or the superior alternating current that we use from the criminally lesser taught Tesla) analogy, even learning can be seen as an investment, and get a similar response.  I get that it's fun to share things of interest(like in this paragraph), but have learned the hard way that others can surprise me with their reactions.  I've learned that in real life(from the mother of a toddler) it can be useful to condition yourself to have a stock phrase such as "that's interesting" in your pocket to buy you a moment, and possibly help fertilize your next thought.  YMMV.  

 

Anyhow, will we get updates on this?  Smiley Happy  I just realized I invested more thought into this than I intended to, and like in other threads, am curious to hear how it turns out.  

This message is endorsed by me.  Thanks for your support.
Message 7 of 13
Valued Member

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

I'd think you'd need to ask them what they think having a credit score of "0" actually meant. They may think it's good. 

 

Obviously if they have no issues securing whatever financing they need then there really isn't any educating the needs to be done....just keep on doing what you been doing.

Message 8 of 13
Frequent Contributor

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

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.

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
Message 9 of 13
Moderator

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

There is no model that I am aware of that goes to 0. Ficos lowest is a 250 on the bankcard model and 350 in standard models. If you dont have a score its not even a 0.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Message 10 of 13