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Old 08-05-2011, 11:10 AM
kate032 kate032 is offline
Join Date: Jul 2011
Posts: 57
Default Re: Young and in debt

Originally Posted by littleroc View Post
because how is it fair that if you are responisible, you have no debt and they give you a higher rate because you are doing better with your money then most, but since you don't have a stupid FICO score you get hit.
It is unfair. However, I would also be just a bit leery of a landlord who didn't do a credit check. You're absolutely right that a FICO isn't necessarily a predictor of how responsible a person is. But there are just too many instances when a necessary entity (car insurance, employers, landlords, etc) will use it that it works more in our favor if we can establish credit of some kind. But for a person who cannot control themselves with credit, then it's probably better to just stay away. However, the fact that a person cannot control his spending habits with a credit card also says a little bit about the responsibility of that person, as well.
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