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28. Do You Need a Credit Score While Debt-Free?
Balanced FI Podcast
English - November 30, 2021 07:00 - 20 minutes - 18.4 MB - ★★★★★ - 2 ratingsInvesting Business Education Self-Improvement debt debt freedom debt payoff family finance financial freedom financial independence financial security frugal medically complex personal finance Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Welcome to the Balanced FI Podcast, episode 28 - Do You Need a Credit Score While Debt-Free?
You CAN live without a credit score, once you’re debt-free… but life is a lot easier with a good credit score. A credit score is helpful for renting a home, establishing new utility services, applying for certain jobs, getting a mortgage, property insurance in some states, life insurance rates.
Using credit wisely and carefully can help you get and maintain a good credit score. There’s one important caveat here - don’t even attempt limited credit card use unless you are well accustomed to living without a credit card. You need to treat your credit card like a debit card.
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RESOURCES:
Read: Do You Need a Credit Score While Debt-Free?
Read: Financial Security Step 4: Calculate your Net Worth
Resource: sign up for the Frugal Year Challenge
SOURCES:
Source: Living Without a Credit Score
Source: Can You Buy a House With No Credit?3
Source: Dave Ramsey Says You Don’t Need a Credit Score. 5 Reasons That’s Nonsense
Source: What is a credit score?
Source: Getting Utility Services: Why Your Credit Matters
Source: What to Know About a Credit-Based Insurance Score
Source: When does debt fall off your credit report?
Source: Does your credit score affect your life insurance premiums?