FICO score headed to zero -

[Anonymous]

As others have said, get a card and use it occasionally and pay it in full.  You'll have no debt, and you'll have current credit activity to keep your scores up.

Plus, nowadays with so many great rewards cards out there (cashback, miles, etc.) I'd get something that works for you, and put your everyday spend on it, and pay it in full every month.  As long as you pay in full, you have no debt (except for that month's spend which you're paying off) and you can earn rewards AND keep a FICO score going.

[Physh1]

Not to keep pounding the nail into the board here but if you don't care to play the credit game, don't need a card, don't need loans, own everything, & you sound financially very stable why are you worried about scores? Only matters really if you want credit...if you don't want credit why care about a credit score?

On the flip, you don't need to play a game...get that idea out of your head. Get a card that works for you, use it, pay it off every month, get a little cash back or whatever, done. Enjoy a healthy score once you get some recent history going...done.

[Anonymous]

Yeah it was more of a curiosity. I just thought it was odd.

[Anonymous]

@Anonymous Here’s one more thing to consider. A credit card can give you a 0% interest for so many months as an introductory feature, which can allow you to use your money to make money somewhere else.

Plus each month it gives you almost a month of float that you can be doing something else with your money.

Plus you can earn money with cash back and you make a percentage of your money spent back in your pocket operating as a discount on every purchase you make.

There are many other benefits from various credit cards as well, extended warrantees, purchase protection, return protection, etc.

If somebody drains that debit card, you may not get it back or you may go through hell to get it back. On the flipside, your loss on the card, I think it’s limited to $50 (other members will correct me if I’m wrong).

So you’re receiving a lot of benefits and protections by having and using the card, depending on which one you choose as well.

Maybe you’ve got so much money that you don’t care about saving money or making anymore, and if that’s the case, again I don’t understand why you’re worried about a credit score.

Have you been keeping company with Dave Ramsey?

[Anonymous]

I just realized why my hyperlinks weren’t working. You might want to correct the spelling on your name I think it was supposed to be nodebtdude, right?

[Anonymous]

Why is it odd? Would you loan somebody some money that hasn’t been known to pay a debt back in 30 years?

[SouthJamaica]

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@Anonymous wrote:
Why is it odd? Would you loan somebody some money that hasn’t been known to pay a debt back in 30 years?

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There's quite a difference between (a) someone who during the past 30 years has had debts and not repaid them, and (b) someone who hasn't had any debt in 30 years.

Yes I would absolutely consider lending to someone in category (b).

[Anonymous]

You might but I bet Chase and Barclays wouldn’t, along with many other lenders.

[Anonymous]

So what kind of interest rates are we talking SJ? 😉 J/K.

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:
Why is it odd? Would you loan somebody some money that hasn’t been known to pay a debt back in 30 years?

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There's quite a difference between (a) someone who during the past 30 years has had debts and not repaid them, and (b) someone who hasn't had any debt in 30 years.

Yes I would absolutely consider lending to someone in category (b).

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But would you lend me $50k if all I could show you was that I made $xxx,xxx per year and just *told* you my credit score was 825 thirty years ago?  You have no way of verifying my credit history because there is nothing reporting now.  

There is a difference between no debt for 30 years and no history for 30 years.  The later is along the lines of the discussion in this thread.

If the answer is still a yes, I'm sure lots of folks will be ready to hit you up.