Dave Ramsey advocates for living debt-free and often suggests that a credit score isn't necessary. However, this view overlooks the benefits of having a credit score, especially when financing significant purchases. While Ramsey argues that if one does not borrow money, they don’t need a score, the article counters that having a score can lead to better borrowing terms. It highlights that certain credit cards, especially those offering '0% Intro APR' can help individuals manage debt more effectively, potentially saving them hundreds or thousands of dollars.
It's best to have a credit score so you're able to finance large purchases in an affordable manner.
If you've ever listened to Dave Ramsey talk about debt, you're no doubt aware that he's not a fan.
Ramsey's logic in the context of credit scores is simple. If you're not borrowing money, you don't need a credit score.
But is he right? Not exactly.
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