Credit Scores

[tigerbob]

One fact has led me to believe that credit scores are fucked up in this country.

I moved back to the USA last summer after 10 years living in England. One of the first things I needed was a new vehicle (I wanted a full size pickup).

I had no income, no house, was living with my parents in law and no credit history in the US for over a decade.

The truck was $23k, but I was told I could get an extra $1k off if I financed a part of the purchase price and that the minimum I could finance was $6k. I said OK let's do this and so they ran a credit check on me.

My score came back at 806.

No income.
No house.
No apparent assets.
No credit history.

806.

WTF?

No wonder the housing market collapsed if it was that easy to get credit.

 

[AllieBaba]

I need a pickup. Your post gives me hope.

My son who has bought and lost (back to various banks) vehicles since he was 15 can walk onto any car lot and get the car he wants. He doesn't have a job other than the National Guard.

Irritates the hell out of me. I've worked all my life and accumulated no debt...and no credit history. I haven't been able to get a loan, ever.

 

[Anguille]

Irritates the hell out of me. I've worked all my life and accumulated no debt...and no credit history. I haven't been able to get a loan, ever.

I've had similar experiences. All because I stayed away from credit cards and credit card debt. I paid back my student loan before it was even due.
I think, though, that car loans operate differently than mortgages. It sems any deadbeat can buy a car on credit.

 

[strollingbones]

my son has no credit....no checking account...no credit cards....nothing....when he was in college the boa...called....telling him he needed a credit card....he had no job