Last year on a podcast, I debated the pros and cons of the FICO score. If you do not know, the FICO score is the most commonly accepted way for lenders to determine one’s credit worthiness. The difference between having a great score and a good score potentially impacts your ability to get the best interest rate. Because I teach people to pay off their debt and pay for things with cash I am not a fan of the FICO score at all. But what if you are done with borrowing money? Do you still need a good FICO score?
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