How do I get a 0 Credit Score?

[Anonymous]

I don't borrow money anymore. Instead I save and as a result have money. I have a high credit score. Obviously I don't want a bad score but I would rather have my credit score be 0. I have had no open or active accounts in the past 6 months. I thought that was all it took to have a 0 score? Any thoughts? 

[Anonymous]

Close all credit accounts that report to your credit bureaus.  Then dispute all accounts.  Anything remaining may take up to 10 years to disappear.

Once your credit reports have NO accounts showing, you will have no score.  It won't be 0, it will be NO SCORE at all.

[Anonymous]

What ABCD said although I don't think it takes 10 years to no longer produce a score. In my case it was less but I have no idea what the timing is.

In case you are unaware you don't need to go into debt to maintain a credit score. Do you buy stuff? I do and my credit card companies pay me to use their products. Just pay off the bal before the due date...never spend a dime.
I can't think any advantage to not having a credit score. But if that's what makes you happy go for it.

I will add one of the single dumbest decisions I've made was not maintaining a credit score. Unless you have the savings/income to buy a house, car or attended school you will need to borrow at some point. Credit scores/reports are also used by insurance companies to determine rates, employers use them to determine who to hire and landlords use them for determining who to lease to.

[Anonymous]

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@Anonymous wrote:

I will add one of the single dumbest decisions I've made was not maintaining a credit score. Unless you have the savings/income to buy a house, car or attended school you will need to borrow at some point. Credit scores/reports are also used by insurance companies to determine rates, employers use them to determine who to hire and landlords use them for determining who to lease to.

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Red text in quote is why I want to get my credit score back to 740+.  I own my home without a mortgage and in 25 years of owning my home(s) I never needed a mortgage.  But having a low FICO score means I pay more in insurance rates -- in one case, my insurer told me I am paying almost 18% more a year because of my low FICO score!  18% a year savings is worth getting back into credit rebuilding even though I will never need a loan in my life thanks to saving for purchases in my past.

[Anonymous]

In order to receive a valid FICO® Score, the credit report must have:

• At least one account opened for six months or more, and
• At least one account that has been reported to the credit bureau within the past six months, and
• No indication of deceased on the credit report (Please note, if you share an account with another person this may affect you if the other account holder is reported deceased).

http://www.myfico.com/crediteducation/questions/requirement-for-fico-score.aspx

The second bullet may be the key for our OP.  After his creditors have stopped reporting his accounts, then 7 months later he should have no FICO score.

OpenG very helpfully raises the key issue for our OP.  He sounds like he is under the impression he needs to be in debt, paying interest, etc. to have a good credit score.  This is completely untrue.  The folks here will be glad to talk to him about a very simple low maintenance method of keeping his high score.  It can if he wants also involve never seeing his credit cards -- if he feels that having them in his wallet induces him to spend money.  (Not a crazy concern.)

[Anonymous]

@ABCD
Wow! 18% that's pretty significant. I imagine with a more than one vehicle or bundled policies that's potentially a good bit one can save. Good luck with your rebuild!

Also for got to mention, utility companies, phone, internet, new bank/credit union accounts...yep they all look a your credit report as well.

[Anonymous]

If the OP has the kind of cash where he never has to buy on credit even homes, insurance should not be a concern. You can self insure for everything even auto insurance. So insurnace rates are probably not even a consideration.