Yes, that’s right! We don’t care about building our FICO score. It’s true.
We are that rare breed of American that cares nothing about FICO or any of its related credit measuring buddies. While I don’t consider myself strictly a personal finance blogger, per se, I would say that this way of thinking generally goes against a lot of financial advice. Even if you are in the more extreme personal finance camp, this total disregard for a credit score is really extreme!
Gasps of horror and looks of shock and bewilderment ripple across the personal finance blogosphere. How could you not care about your credit? How will you get a home? What if you need a small business loan? However could you live with poor credit? All common, but good, questions.
The answer is simple. You’ve heard Dave Ramsey say it a few times: FICO is not a measure of wealth, but simply how well you acquire and pay off debt. Since we plan not to use credit ever again for anything- not even a house or car, then our credit score really can’t help us. Though we don’t plan to trash our credit score, we don’t have intentional plans to build it up either. But we do have very intentional plans to save and pay cash for things as needed. If cash can’t cover it, we don’t get it. That includes houses, cars, college, weddings- the whole shebang!
After having played around with credit, both personally and business-wise, I can say that I am cured from acute credit-itis and would not be sad at all if we never built up a good credit score again. And this, ladies and gentlemen, is why we don’t care about our credit score.