Comments on: A Life Without Debt: Freedom from FICO

By: The Death of FICO? - SavingAdvice.com Blog

The Death of FICO? - SavingAdvice.com Blog — Thu, 16 Apr 2009 07:01:40 +0000

[...] week, Sadie wrote about how debt free living means not being a slave to a FICO score. In the article, she pointed out that FICO has become such an integral part of our lives that even [...]

By: Bobbi

Bobbi — Wed, 08 Apr 2009 23:58:50 +0000

Just imagine a world where everyone lived this type of life. Wouldn’t the table then be turned on all the insurance companies, etc? They would need us.

By: Spokane Al

Spokane Al — Wed, 08 Apr 2009 14:29:31 +0000

I agree on your comments concerning living debt free and FICO worry free. We have been totally debt free for over 10 years now. I equate debt to slavery in that without it, one is freed up in many ways to live life through more choice and less demands.

I am also one who rarely checks our FICO score. We have locks on our credit which causes less worry, and less to no chance for ID theft.

P.S. As a result of your post I did check our FICO score yesterday just for the heck of it. Our score is 807.

I guess we are doing something right.

By: Molly H

Molly H — Tue, 07 Apr 2009 21:50:42 +0000

Um, clearly you do not understand that your credit score affects your life even if you don’t have debt.

Do you have car or home insurance? Your credit score was used to set your rate. If you have crappy credit, then you are paying too much. Want to open a bank account? Banks check your fico score.

Oh, and what if you have been a victim of identity theft and there are some accounts in your name, that you never opened on your credit report? You would never know it.

So yes, you have to keep tabs on your score unless you want to pay too much for everything.

Don’t be so smug. Clearly you have a limited understanding of what FICO scores are used for.

By: justme

justme — Tue, 07 Apr 2009 14:25:32 +0000

I have always sat back in wonderment as people try to manipulate their FICO

I have always had a great FICO , my secret I have always paid my bills

that fico crap is a sweet racket for the collection companies, and people who want to loan you money

my son somehow got a great job and great insurance rates without a Fico score

By: Brendon

Brendon — Tue, 07 Apr 2009 11:43:47 +0000

Yes, Irrespective of you are indebted or debt-free, its better to keep a close tab on FICO. Prevention is better than cure.

By: Paul

Paul — Tue, 07 Apr 2009 10:35:16 +0000

Very well written and being debt free myself,your have done an excellent job of putting words to how I approach my “DEBT” score.