Would someone not having a credit score be a red flag?

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MonarchMom
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Anonymous 1 wrote: Sat Jun 03, 2023 2:00 pm
MonarchMom wrote: Sat Jun 03, 2023 12:48 pm So what about hotels, airline tickets, streaming services, car rentals, etc.? Has he never done these things?

I would be suspicious and also concerned about future plans to travel or make purchases if this becomes a long-term relationship.
You don't need a credit card for any of those things. I'm not really concerned because he makes really good money and so do I so IF there was going to be a big purchase we could afford it. Traveling isn't really impacted by not having a credit card.
I suppose if you go to a travel agent you can pay for airline tickets in cash, but I have never seen a hotel or car rental that would take a reservation without a CC on file. But I've also never tried to do it that way. I'd rather just use a CC, pay it off every month, and get the points for future purchases.
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I thought a cc was needed to rent a car.
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hotspice58 wrote: Sat Jun 03, 2023 7:27 pm I thought a cc was needed to rent a car.
Here in the DC area, at most rental places, you don't need a "credit" card. You just need a credit/ debit card issued from a bank that you have an active account with.
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Not a red flag. If he’s doing his thing without credit cards or score that’s cool. However, I would think a zero credit score or no CC would hinder his ability to get a loan, rent cars and all the other things. How does he get around that?
What does he do to earn his money?

I have never been able to rent a car without a CC or hold a hotel reservation. Some businesses would not accept a debit card only a CC.

I switched cable services I was surprised I needed a CC and light credit check was done. It’s cable not a million dollar loan. Lol!
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Inmybizz wrote: Sun Jun 04, 2023 6:25 am Not a red flag. If he’s doing his thing without credit cards or score that’s cool. However, I would think a zero credit score or no CC would hinder his ability to get a loan, rent cars and all the other things. How does he get around that?
What does he do to earn his money?

I have never been able to rent a car without a CC or hold a hotel reservation. Some businesses would not accept a debit card only a CC.

I switched cable services I was surprised I needed a CC and light credit check was done. It’s cable not a million dollar loan. Lol!
I haven't had a CC for almost 10 years and have never had a problem traveling with my debit card or using my debit card to open utilities accounts. I don't currently have any loans so have no idea if I have a credit score.
"The books that the world calls immoral are books that show its own shame." - Oscar Wilde
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WellPreserved wrote: Sun Jun 04, 2023 7:12 am
Inmybizz wrote: Sun Jun 04, 2023 6:25 am Not a red flag. If he’s doing his thing without credit cards or score that’s cool. However, I would think a zero credit score or no CC would hinder his ability to get a loan, rent cars and all the other things. How does he get around that?
What does he do to earn his money?

I have never been able to rent a car without a CC or hold a hotel reservation. Some businesses would not accept a debit card only a CC.

I switched cable services I was surprised I needed a CC and light credit check was done. It’s cable not a million dollar loan. Lol!
I haven't had a CC for almost 10 years and have never had a problem traveling with my debit card or using my debit card to open utilities accounts. I don't currently have any loans so have no idea if I have a credit score.
I don’t remember the rental company I couldn’t use a debit card to “hold” my reservation even though I intended to pay cash when I returned it.

But, that was many years ago perhaps that policy has changed.

Do you need a credit score for a home loan?
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Inmybizz wrote: Sun Jun 04, 2023 8:18 am
WellPreserved wrote: Sun Jun 04, 2023 7:12 am
Inmybizz wrote: Sun Jun 04, 2023 6:25 am Not a red flag. If he’s doing his thing without credit cards or score that’s cool. However, I would think a zero credit score or no CC would hinder his ability to get a loan, rent cars and all the other things. How does he get around that?
What does he do to earn his money?

I have never been able to rent a car without a CC or hold a hotel reservation. Some businesses would not accept a debit card only a CC.

I switched cable services I was surprised I needed a CC and light credit check was done. It’s cable not a million dollar loan. Lol!
I haven't had a CC for almost 10 years and have never had a problem traveling with my debit card or using my debit card to open utilities accounts. I don't currently have any loans so have no idea if I have a credit score.
I don’t remember the rental company I couldn’t use a debit card to “hold” my reservation even though I intended to pay cash when I returned it.

But, that was many years ago perhaps that policy has changed.

Do you need a credit score for a home loan?
A good credit score will impact how much you pay for a home loan.

A bad/no credit score will end up paying a lot more in the end than someone with a good credit score.
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Inmybizz wrote: Sun Jun 04, 2023 8:18 am
WellPreserved wrote: Sun Jun 04, 2023 7:12 am
Inmybizz wrote: Sun Jun 04, 2023 6:25 am Not a red flag. If he’s doing his thing without credit cards or score that’s cool. However, I would think a zero credit score or no CC would hinder his ability to get a loan, rent cars and all the other things. How does he get around that?
What does he do to earn his money?

I have never been able to rent a car without a CC or hold a hotel reservation. Some businesses would not accept a debit card only a CC.

I switched cable services I was surprised I needed a CC and light credit check was done. It’s cable not a million dollar loan. Lol!
I haven't had a CC for almost 10 years and have never had a problem traveling with my debit card or using my debit card to open utilities accounts. I don't currently have any loans so have no idea if I have a credit score.
I don’t remember the rental company I couldn’t use a debit card to “hold” my reservation even though I intended to pay cash when I returned it.

But, that was many years ago perhaps that policy has changed.

Do you need a credit score for a home loan?
I ran into one issue with using my debit card in trying to pay for a whole house move. The card had a maximum daily charge which was lower than the cost of the move. I was able to call my bank and temporarily increase that daily charge amount so I could pay the deposit on the move. For me, this is probably the only disadvantage of using a debit card rather than credit card - the limit on spending. I try to keep my checking account balance low.

I do have a small business and have both a debit card and credit card for the business and no credit check was necessary but both my business account and credit card are through my bank where I have long term personal history so I don't know if that makes a difference.

I think they run a credit check for any type of loan but I'm not sure what would happen if someone had no credit score. My daughter who is 26 had no credit score up until last year and she was still able to take out a loan through her bank by providing her W-2's as proof of income. I assume that now she has a credit score because of that loan but she still has no credit cards.

I would be curious if a bank looks at no credit score as "better" than low credit score?

It sounds kind of wacky but I have no desire to have any kind of loan or credit cards. When I was married, my husband had multiple cards which I was on and we had multiple mortgages. He racked up almost $100,000 in credit card debt before he died and I wasn't responsible for it. Once he died, I paid off the mortgages and decided I was never going to go into debt of any kind again.
"The books that the world calls immoral are books that show its own shame." - Oscar Wilde
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WellPreserved wrote: Sun Jun 04, 2023 8:40 am
Inmybizz wrote: Sun Jun 04, 2023 8:18 am
WellPreserved wrote: Sun Jun 04, 2023 7:12 am

I haven't had a CC for almost 10 years and have never had a problem traveling with my debit card or using my debit card to open utilities accounts. I don't currently have any loans so have no idea if I have a credit score.
I don’t remember the rental company I couldn’t use a debit card to “hold” my reservation even though I intended to pay cash when I returned it.

But, that was many years ago perhaps that policy has changed.

Do you need a credit score for a home loan?
I ran into one issue with using my debit card in trying to pay for a whole house move. The card had a maximum daily charge which was lower than the cost of the move. I was able to call my bank and temporarily increase that daily charge amount so I could pay the deposit on the move. For me, this is probably the only disadvantage of using a debit card rather than credit card - the limit on spending. I try to keep my checking account balance low.

I do have a small business and have both a debit card and credit card for the business and no credit check was necessary but both my business account and credit card are through my bank where I have long term personal history so I don't know if that makes a difference.

I think they run a credit check for any type of loan but I'm not sure what would happen if someone had no credit score. My daughter who is 26 had no credit score up until last year and she was still able to take out a loan through her bank by providing her W-2's as proof of income. I assume that now she has a credit score because of that loan but she still has no credit cards.

I would be curious if a bank looks at no credit score as "better" than low credit score?

It sounds kind of wacky but I have no desire to have any kind of loan or credit cards. When I was married, my husband had multiple cards which I was on and we had multiple mortgages. He racked up almost $100,000 in credit card debt before he died and I wasn't responsible for it. Once he died, I paid off the mortgages and decided I was never going to go into debt of any kind again.
You can have credit cards and not debt. They can be used to make purchases and then the total can be paid in full every month. No interest charges, you just pay for what you purchased. You get the convenience of not having to carry cash with you for purchases, and the protection of additional insurance or perks with many cards. You can get automatic liability insurance on rental cars, trip cancellation coverage, no cost upgrades, etc., depending on the card.

The situation with your husband sounds very stressful. Glad you were able to overcome the debt and move forward.
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I’m shocked that this many adults don’t know how important a good credit score is.
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