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Ask Dave

Problems With No Credit Score?

Ian is 20 years old and getting out of debt. Ian's girlfriend is concerned he won't be able to get a job. Dave explains that Ian's girlfriend has no idea what she's talking about.

QUESTION: Ian in Pasadena is 20 years old and getting out of debt. He’s concerned about what will happen when he’s older and doesn’t have a credit score. Ian’s girlfriend is concerned he won’t be able to get a job or pull more than $10,000 out of the bank. Dave explains that Ian’s girlfriend has no idea what she’s talking about.

ANSWER: In either case, I would explain to them that that is because I don’t have any debt. Since I don’t have any debt and haven’t had any debt, I have what’s known as money, and I am what’s known as stable. That makes me an excellent employee or an excellent tenant.

I’m a landlord, and if I could have a tenant that had absolutely zero debt versus one that’s deeply in debt and has a high credit score, I’ll take the one that has no debt. They’re more likely to pay, right?

Your girlfriend doesn’t know what the flip she’s talking about. She just made up something that has nothing to do with anything.

You guys really need to dig deeper into this subject as your relationship gets more serious because she’s got some mythology running around in her bubble there that needs to be burst.