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Life Without a Credit Score – Pagosa Daily Post News Events and Video for Pagosa Springs Colorado

Life Without a Credit Score – Pagosa Daily Post News Events and Video for Pagosa Springs Colorado

Living without credit may be possible, but it’s generally not a good idea.

— from an article by Evelyn Waugh on Experian.com, “Can You Live Without Credit?”

Apparently Evelyn Waugh enjoys writing about personal finance, as she has published eleven articles on Experian.com since February.

I connected to his articles because I’ve been living without a credit score for quite a while now and was wondering if I was missing something. And apparently, I am. I miss the opportunity to get into heavy debt by buying a house or a new car. Or even do something stupid like apply for a credit card.

Just to be clear. I do not have bad credit score. That would be depressing.

I have no credit score at all.

This is what happens when you stop going into debt. Experian, TranUnion and Equifax start treating you like you don’t exist.

It turns out that about 45 million Americans have no credit score, also known as “credit invisibility.” By my calculations, that’s almost one in five adults in this country. So maybe I’m in good company. Or at least, in some sort of business.

I look at the situation philosophically. I find philosophy useful when nothing else seems useful.

A famous French philosopher, René Descartes, once wrote: “I think so I am.”

“I think so I am.”

According to FICO, the Boseman, Mont.-based data company, it doesn’t matter what your thinking is. You only exist if you continue to buy things on credit.

After my divorce from Darlene, I cut off all my credit cards; a cathartic experience if ever there was one. (I use the word “cathartic” here in the sense of emotional and spiritual liberation… and not in its other sense, linked to the use of laxatives.)

Cutting up all my cards was a crazy thing to do, because I had no real money. I use my credit cards to pay for everything. And I had no savings, because… well, because I was using my credit cards to pay for everything.

The next few months were pretty tough, to be honest. The credit card companies still wanted to be paid, even when I explained to them (repeatedly) that I had cut up all my cards and therefore had no money left.

A few companies have been downright nasty about it. I suspect that my credit rating, over those months, probably took a big hit. (But I was afraid to look, so I can’t say for sure.)

What I can say, with certainty, is that I still existed, in the minds of these credit card companies. You can cut up their cards, but they still have your phone number.

If René Descartes had written his philosophical treatise in 2008, he could have written: “I have credit card debt, so I am.”

“I have credit card debt, so I am.”

But he could also have written: “After a few years, the debt magically disappears. »

“After a few years, the debt disappears, as if by magic. »

The phone calls disappear… the nasty letters disappear… and your credit score disappears. I was able to open a savings account, get a debit card from my bank and ThereI could buy things online again.

A cynical person might ask, “But Louis, do you really exist?”

I’ll have to think about it.

Life Without a Credit Score – Pagosa Daily Post News Events and Video for Pagosa Springs Colorado

Louis Cannon

Underrated writer Louis Cannon grew up in the vast American West, although his ex-wife, at the slightest opportunity, will deny that he ever grew up.