anybody heard of a 0 credit score

[neebelung]

Originally Posted by Homeslice

Now, if he just plain doesn't own a card at all, that's different. I don't understand the mentality of people like that, but that's another subject.

You don't understand people who don't have credit cards? Why?

[shmike]

Originally Posted by Rider

I understand that a lot of people don't use credit cards at all, but some things like houses and cars are for the most part a financed item. I've just never head of a 0 credit score. Did this guy live on a deserted island or was incarcerated for 10 years? I'm not saying the guy is lying, I'm just saying there might be more to the story than he is letting on. Did he file bankruptcy a few years ago and has been unable to get credit so his credit score went to 0 after years of not using any credit.

Houses and cars are usually financed because people feel the need to constantly out-do the Joneses.

The guy said he had paid off 9 cars and 2 houses.

If his 2nd house was paid off 12 years ago then he has done a good job of living within his means. If he no longer has a mortgage, it wouldn't be hard to save a few grand a year and pay cash for your next vehicle.

Maybe he, GASP, has been driving the same old car for 13 years.

I agree w/ HS, I've never seen a 0 score and personally find it odd to not use CC's but just because someone isn't saddled with debt doesn't mean they are "fishy", just prudent.

[Homeslice]

Originally Posted by neebelung

You don't understand people who don't have credit cards? Why?

Because they're denying themselves the ability to shop without carrying a lot of cash or standing around writing checks. More importantly, they're denying themselves the ability to get bonus points, which can be cashed out or exchanged for gifts or airline miles.

[the chi]

Originally Posted by Homeslice

Because they're denying themselves the ability to shop without carrying a lot of cash or standing around writing checks. More importantly, they're denying themselves the ability to get bonus points, which can be cashed out or exchanged for gifts or airline miles.

You're kidding right??

I mean seriously??

Most people who use CC's use them because they dont have ready monies available, NOT because they want the bonuses or miles.

And havent you heard of that new nifty invention, the check card? With a CC logo so it can be used everywhere? Avoiding the need for cash or checkbooks? You can even get bonuses and miles depending on your bank.

[Rider]

Originally Posted by shmike

Houses and cars are usually financed because people feel the need to constantly out-do the Joneses.

The guy said he had paid off 9 cars and 2 houses.

If his 2nd house was paid off 12 years ago then he has done a good job of living within his means. If he no longer has a mortgage, it wouldn't be hard to save a few grand a year and pay cash for your next vehicle.

Maybe he, GASP, has been driving the same old car for 13 years.

I agree w/ HS, I've never seen a 0 score and personally find it odd to not use CC's but just because someone isn't saddled with debt doesn't mean they are "fishy", just prudent.

I understand what you are saying and all that may be true and good for him if that is the case. How old is this guy? If he was older like in hio 50 or 60's it's more believable. If he was in his 40's or younger, it's a little harder to swallow unless this guy made a shit ton of money.

[Rider]

Originally Posted by The Chi

You're kidding right??

I mean seriously??

Most people who use CC's use them because they dont have ready monies available, NOT because they want the bonuses or miles.

And havent you heard of that new nifty invention, the check card? With a CC logo so it can be used everywhere? Avoiding the need for cash or checkbooks? You can even get bonuses and miles depending on your bank.

Yep, I use my chase debit card for everything because i get rewards points.... also chase has a deal that for every 500 debit card purchases, they pick up the tab.... odds are strongly against you given the number of people who bank and chase, but it's worth trying for. LOL

[the chi]

Originally Posted by Rider

Yep, I use my chase debit card for everything because i get rewards points.... also chase has a deal that for every 500 debit card purchases, they pick up the tab.... odds are strongly against you given the number of people who bank and chase, but it's worth trying for. LOL

Mine is very similar. I paid off all my CC's, and closed them all, I now have only my car loan, bike loan and insurance. Using my check card I get cash back rewards, points I can use for different "prizes" or miles per se, and I dont have to worry about spending money that doesnt come straight out of my accounts.

Altho the hubby did give me a cc for emergencies...does shopping count?

[thunderex]

Originally Posted by The Chi

You're kidding right??

I mean seriously??

Most people who use CC's use them because they dont have ready monies available, NOT because they want the bonuses or miles.

And havent you heard of that new nifty invention, the check card? With a CC logo so it can be used everywhere? Avoiding the need for cash or checkbooks? You can even get bonuses and miles depending on your bank.

Maybe most people do it that way but we definitely use credit cards for the bonus miles. We pay our bills off every month. But since my wife's parents live out of the country we use up our miles every year flying them here and us flying there. I know tons of people who pay their credit card bills off every month and use them for convenience/rewards. My brother's a doctor and he has a shitton of cash right now. I mean, a LOT. He still uses his credit card almost exclusively.

Why use a check card when you treat a credit card the same way with the extra benefit of improving your credit score?

[Homeslice]

Originally Posted by The Chi

You're kidding right??

I mean seriously??

Most people who use CC's use them because they dont have ready monies available, NOT because they want the bonuses or miles.

And havent you heard of that new nifty invention, the check card? With a CC logo so it can be used everywhere? Avoiding the need for cash or checkbooks? You can even get bonuses and miles depending on your bank.

Uh, no I'm not kidding. I'm not "most people"..........I have plenty of cash in savings and such, so I don't use credit cards because I HAVE to, I use them because they're convenient and give me rewards.

And I prefer credit cards over debit cards because..........I'm old school. I don't like the idea of going around shopping with a debit card and then not really knowing how much is left in my checking acct until I go home and log into the website. Besides, I deliberately keep my checking acct balance low, because banks don't give good interest rates on them. So I wouldn't want to go around shopping on the debit card and then having it bounce because I used all my balance. With a credit card I don't have to worry, because the credit line is 10 or 20K, so I have no worries about exceeding the limit.

And I doubt most debit cards give you 1% cash back (and 3% on your biggest merchandise category that month), like my credit card does.

[Fleck750]

I probably have a 0 credit rating due to hospital bills and a bankruptcy.

Do I miss my cc's? No.

I live on what cash is available. I've owned a home, not interested anymore in that. My car? 20 years old. My bike? 30 years old. All paid for.

God forbid I live within my means and pay cash for everything.