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To: justlurking

“That will hurt you later when you apply for new credit (mortgage, car loan, etc.)”

Not really. The only thing that hurts you is being late or not paying. A zero score is just as good as an 800 score. It means you have stayed out of debt. But your credit score will still reflect power bills and such so a 0 score is unlikely. People with 0 scores are usually housewives with rich husbands.


21 posted on 01/04/2012 8:39:22 AM PST by AppyPappy (If you really want to annoy someone, point out something obvious that they are trying hard to ignore)
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To: AppyPappy
Not really. The only thing that hurts you is being late or not paying. A zero score is just as good as an 800 score. It means you have stayed out of debt.

Sorry, but having just gone through this with a young adult daughter -- no credit history (or minimal credit history) is hugely different than a established credit history.

You might get a loan, but it will be considered sub-prime and your interest rate will be as much as 6X what you will get with an established credit history.

23 posted on 01/04/2012 8:46:43 AM PST by justlurking (The only remedy for a bad guy with a gun is a good WOMAN (Sgt. Kimberly Munley) with a gun)
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