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Dave Ramsey has encouraged millions of his followers to do the same ("indeterminable" score"). For the most part, it is not that much of a problem. Even home mo
by dottrap 8y ago
Dave Ramsey has encouraged millions of his followers to do the same ("indeterminable" score"). For the most part, it is not that much of a problem. Even home mortgages can done through manual underwriting.
The biggest pain point seems to be car rentals as they seem to have constantly shifting and strange rules about whether and when they accept debit cards. The next seems to be car insurance discounts as insurers seem to have strangely connected your driving risk with your credit score.
- danenania 8y agoYep, car rentals are a pain point for sure. There are companies/franchises that will accept debit cards with a deposit, but it can be really hard to get a clear answer one way or the other apart from just showing up and trying. In my experience, it has been about 50/50. It's not very rational, since I'm perfectly happy to leave a deposit higher than some people's credit limits.
- neuland 8y agoCould you share what kinds of banks will do manual underwriting? I am another person that refuses to get credit cards, but I did run into issues getting a mortgage. All the banks that I spoke with would concede in person that I am an extremely low risk, but they all intended to sell my mortgage on the secondary market (but still do the servicing themselves). So, they wouldn't / couldn't give a mortgage to someone who doesn't fit the "normal" boxes. Finding a bank that was willing to not sell the mortgage took a bit.
- dottrap 8y agoDave Ramsey recommends Churchill Mortgage.