Comments on: How To Live Debt Free With No Credit http://thesmarterwallet.com/2009/debt-free-no-credit/ Money Tips, Consumer News and Product Reviews To Improve Your Finances Tue, 16 Mar 2010 04:47:23 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: April http://thesmarterwallet.com/2009/debt-free-no-credit/comment-page-1/#comment-15362 April Fri, 19 Feb 2010 17:11:05 +0000 http://thesmarterwallet.com/?p=7164#comment-15362 We have lived debt free for 5 years. No car payments. No credit cards. Freedom. Eye-opening. Feels like we've crossed over to the dark-side so to speak... people make fun of us, say that we're not realistic, but then later ask us for advice. We have lived debt free for 5 years. No car payments. No credit cards. Freedom. Eye-opening. Feels like we’ve crossed over to the dark-side so to speak… people make fun of us, say that we’re not realistic, but then later ask us for advice.

]]> By: Brianna http://thesmarterwallet.com/2009/debt-free-no-credit/comment-page-1/#comment-14941 Brianna Fri, 05 Feb 2010 07:13:41 +0000 http://thesmarterwallet.com/?p=7164#comment-14941 I can't believe how uniformed most of the world is. Of course your score will drop to zero after seven years of not using any credit -- there is nothing to report! I am 20 years old and debt free- the only money I ever plan to borrow is for a mortgage. I know some landlords check credit, but I believe this won't be an issue for me while I am renting before I purchase my home. It's simple -- I pay for a full year's rent up front, and then 1 month before the year lease is up I can pay upfront for another year's rent! It only makes sense to me that I should also be able to get a discount doing this! Keep spreading the word, maybe a few more people will catch on! I can’t believe how uniformed most of the world is. Of course your score will drop to zero after seven years of not using any credit — there is nothing to report! I am 20 years old and debt free- the only money I ever plan to borrow is for a mortgage. I know some landlords check credit, but I believe this won’t be an issue for me while I am renting before I purchase my home. It’s simple — I pay for a full year’s rent up front, and then 1 month before the year lease is up I can pay upfront for another year’s rent! It only makes sense to me that I should also be able to get a discount doing this! Keep spreading the word, maybe a few more people will catch on!

]]> By: Nesta http://thesmarterwallet.com/2009/debt-free-no-credit/comment-page-1/#comment-14462 Nesta Fri, 22 Jan 2010 08:11:40 +0000 http://thesmarterwallet.com/?p=7164#comment-14462 I really wasn't going to comment here because I've known a lot of articles on the internet to be nothing but fluff. But nice job. You really have common sense. That's what seems to be lacking in our hi-tech world. I really wasn’t going to comment here because I’ve known a lot of articles on the internet to be nothing but fluff. But nice job. You really have common sense. That’s what seems to be lacking in our hi-tech world.

]]> By: Joe http://thesmarterwallet.com/2009/debt-free-no-credit/comment-page-1/#comment-13780 Joe Mon, 04 Jan 2010 16:55:53 +0000 http://thesmarterwallet.com/?p=7164#comment-13780 I think it's a great idea. This is one big tool sleazy lawyers and stalkers use to find you, through your credit file. Once you stop using credit there will be no record of any changes of address and phone number you may have. All that stuff is public domain and is sold and re-sold, regardless of what "privacy" you may think you have with the credit reporting agencies. It's how they make money all day every day. Don't believe it? I know people who like to maintain their privacy are seen as kooks in the newspeak world, but c'est la vie. Just putting in my bit of knowledge. I think it’s a great idea. This is one big tool sleazy lawyers and stalkers use to find you, through your credit file. Once you stop using credit there will be no record of any changes of address and phone number you may have. All that stuff is public domain and is sold and re-sold, regardless of what “privacy” you may think you have with the credit reporting agencies. It’s how they make money all day every day. Don’t believe it? I know people who like to maintain their privacy are seen as kooks in the newspeak world, but c’est la vie. Just putting in my bit of knowledge.

]]> By: Jon King http://thesmarterwallet.com/2009/debt-free-no-credit/comment-page-1/#comment-13373 Jon King Mon, 28 Dec 2009 22:51:02 +0000 http://thesmarterwallet.com/?p=7164#comment-13373 Babbit is right, this is silly. I keep one credit card open. I use it a few times a month, then immediately pay it off online. No hassle at all. If I need to rent a car in an emergency or open a wireless account, I have great credit. Living debt free should not mean having no credit score. Babbit is right, this is silly. I keep one credit card open. I use it a few times a month, then immediately pay it off online. No hassle at all. If I need to rent a car in an emergency or open a wireless account, I have great credit. Living debt free should not mean having no credit score.

]]> By: Babbit http://thesmarterwallet.com/2009/debt-free-no-credit/comment-page-1/#comment-12914 Babbit Sun, 13 Dec 2009 15:01:14 +0000 http://thesmarterwallet.com/?p=7164#comment-12914 I really think this article is somewhat silly. You can live 100% debt free and still maintain a very strong credit score. Simply maintain a few credit card accounts and just commit to not using them. (Heck you can actually cut up the cards if that helps). Just maintaining the open accounts will give you a solid credit history. I've had cards for 10 years that I haven't used once, but the credit card company leaves them open. Some people will say that eventually the Company's will close the accounts if you don't use them. I don't really think that is true, but if you are that concerned maybe you could use the account once a month to buy a pack of gum and then immediately send in a payment. (You will now have a long history of on time monthly payments). Have no debt is brilliant. Having no credit history at all doesn't seem necessary or particularly wise. I really think this article is somewhat silly. You can live 100% debt free and still maintain a very strong credit score. Simply maintain a few credit card accounts and just commit to not using them. (Heck you can actually cut up the cards if that helps). Just maintaining the open accounts will give you a solid credit history. I’ve had cards for 10 years that I haven’t used once, but the credit card company leaves them open.

Some people will say that eventually the Company’s will close the accounts if you don’t use them. I don’t really think that is true, but if you are that concerned maybe you could use the account once a month to buy a pack of gum and then immediately send in a payment. (You will now have a long history of on time monthly payments). Have no debt is brilliant. Having no credit history at all doesn’t seem necessary or particularly wise.

]]> By: Steven & Debra http://thesmarterwallet.com/2009/debt-free-no-credit/comment-page-1/#comment-12507 Steven & Debra Mon, 30 Nov 2009 00:46:11 +0000 http://thesmarterwallet.com/?p=7164#comment-12507 The peace of mind that comes with paying as you go and living within your means is priceless. Bravo to you and your husband for getting off the hamster wheel of debt. The peace of mind that comes with paying as you go and living within your means is priceless. Bravo to you and your husband for getting off the hamster wheel of debt.

]]> By: Rod http://thesmarterwallet.com/2009/debt-free-no-credit/comment-page-1/#comment-11533 Rod Fri, 30 Oct 2009 18:32:09 +0000 http://thesmarterwallet.com/?p=7164#comment-11533 You're wrong... your credit score can never be zero. The range for FICO scoring is between 300 and 850. Not using credit generally will not ruin your credit. If you had a good FICO score before you decided to stop paying using credit cards, your credit score will not be lowered significantly. It should not be lowered to the point where you have to give deposits for utilities. You’re wrong… your credit score can never be zero. The range for FICO scoring is between 300 and 850. Not using credit generally will not ruin your credit. If you had a good FICO score before you decided to stop paying using credit cards, your credit score will not be lowered significantly. It should not be lowered to the point where you have to give deposits for utilities.

]]> By: Prime Targeting http://thesmarterwallet.com/2009/debt-free-no-credit/comment-page-1/#comment-8270 Prime Targeting Thu, 30 Jul 2009 05:29:28 +0000 http://thesmarterwallet.com/?p=7164#comment-8270 Saving money is a very important matter, so we have to see all small things from which we can save single penny. Check out some ways for saving like always look for sale, don't use bottled water, always buy from same shop. Evey person should inculcate the habit of savings for a brighter and secure future. For more details on saving money refer to <a href="http://www.prime-targeting.com/tips-on-saving-money-on-household-expenses/" rel="nofollow">this article</a>. Saving money is a very important matter, so we have to see all small things from which we can save single penny. Check out some ways for saving like always look for sale, don’t use bottled water, always buy from same shop. Evey person should inculcate the habit of savings for a brighter and secure future. For more details on saving money refer to this article.

]]> By: Gordon's Credit Report http://thesmarterwallet.com/2009/debt-free-no-credit/comment-page-1/#comment-8240 Gordon's Credit Report Wed, 29 Jul 2009 19:26:10 +0000 http://thesmarterwallet.com/?p=7164#comment-8240 It may be possible to live a life that is free from any debt without any credit, but, the financial situation of each person differs and not everyone may be able to lead debt free lives It may be possible to live a life that is free from any debt without any credit, but, the financial situation of each person differs and not everyone may be able to lead debt free lives

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