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"Debt" in name only, perhaps. You don't need to pay a cent in interest to build up a very good FICO score. A credit card used correctly (paid in full at every s
by ohazi 12y ago
"Debt" in name only, perhaps. You don't need to pay a cent in interest to build up a very good FICO score. A credit card used correctly (paid in full at every statement) is plenty.
- ThomPete 12y agoThats not just in name thats in everthing from culture to how you think about money and what is considered financially responsible. Its far more than just in name.
- misaelm 12y agoI would add that if the "FICO score forced you to take on debt" it would give a better score to someone with a 95% debt to credit line ratio than to an otherwise equal individual with only a 5% debt to credit line ratio. In reality, the opposite is true. Having said that, for you to have a valid FICO score, you do need to have at least six months of credit history (credit card, loan, mortgage or otherwise).