Zero Fico Score

[MidnightVoice]

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@Anonymous wrote:

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@MidnightVoice wrote:

...wonderful Moderators...

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I don't think I've ever seen you use this phrase in all the time I've been on the boards!

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I was thinking of using inestimable, but went for wonderful instead.

But apart from never claiming to be nice, I never claimed to be honest either

[Madison]

I got news for you Midnight, if you followed Dave Ramsey's advice, you wouldn't be here on the MyFico board.

[MidnightVoice]

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Madison wrote:

I got news for you Midnight, if you followed Dave Ramsey's advice, you wouldn't be here on the MyFico board.

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True - I would need an extra job to replace all the money I had wasted by following his advice.

[Anonymous]

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@MidnightVoice wrote:

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@Madison wrote:

I got news for you Midnight, if you followed Dave Ramsey's advice, you wouldn't be here on the MyFico board.

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True - I would need an extra job to replace all the money I had wasted by following his advice.

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so true MV... so true! LOL

[Anonymous]

By "zero" I am sure that he means that he has no scores.  It is perfectly legitimate and not that difficult to do.  Dave isn't an idiot, and I am sure that he has acquired business credit that he can book flights and hotels on, not to mention purchase autos,boats, houses, and any other random thing he chooses.  I have no score.  I have $400k available in business credit.  THINK about it.

[Anonymous]

I know it's hard to believe but two of the three reporting agencies have my husband's score at zero.  He has credit so I am not sure why they have him at zero.  But it is zero.  He has two credit cards and he has had them for about 6 months.  So he really needs to check out why they have him at zero.

[Anonymous]

It's true. No credit score if you pay everything in cash. I have the same problem.

Dear 'ol Dad always said it was wise to pay everything in cash to avoid owing anyone anything. But in today's world, that's a bad thing.

I wanted to buy a house, but because I didn't have anything on my credit report (good or bad) I couldn't get a mortgage without a 'major' down payment.

I couldn't believe that being 41 years old with zero debt was a 'bad' thing.

They suggested I try to get a couple of credit cards or a small loan (that I didn't need) just to pay it back to prove I could get into debt, then get myself out of it. I'm still amazed that making the choice to not get in over my head and what my income would allow was the 'wrong' choice. I would love to know why Mr. Ramsey thinks it's such a good thing to pay cash for everything...because if I was to 'need' a credit card, a loan, a new car or want to buy a home, I am truly out of luck right now.  : ( 

[MidnightVoice]

Remember - having a credit card does not mean debt.  Apart from overseas charges, the only finance charges I have paid on a card were due to a typo 

I use my CC as an interest free loan 

[patrickdlewis]

Well first off, if you have actually talked to him or read into what he is talking about, the reason he has no score is that he has paid off all of his debt years ago, and has no credit accounts. He uses debt cards in place of credit cards. While yes you can use a CC and pay it off each month, part of his approach is to help people on both ended that includes how people think, people who use the CC are more likely to go into debt because they have it. I don't see how his ideas are a waste of money when to have a fica score requires debt, which means paying someone else interest until you pay off the debt. I don't know about yall, but I would rather keep all the money I pay in inttrest payments for my self.