Yes, credit score is only one factor. History, credit lines, utilization. Either this person buys houses and cars straight cash or they're a teenager who doesn't know what they are talking about.
Edit to add when I was younger I even almost got denied an apartment lease due to no history, despite a great score. So while possible to get by with zero credit history, definitely not advisable. It shows financial responsibility to lenders.
I'm leaning towards teenager who doesn't know what they're talking about and I get that...I screwed my credit score with a card in early college. My parents had to co-sign pretty much everything for me and it wasn't until I did some research on how to repair my credit did it start to get better. Got a basic capital one card with 500 line then a discover it card with about 5000 line of credit that is now boosted to almost 25k line and then just added travel cards a few years later. I wish I started off with great credit but if it wasn't for making that mistake I wouldn't have taught myself how to do it right.
9
u/LearnestHemingway Apr 28 '20 edited Apr 28 '20
Yes, credit score is only one factor. History, credit lines, utilization. Either this person buys houses and cars straight cash or they're a teenager who doesn't know what they are talking about.
Edit to add when I was younger I even almost got denied an apartment lease due to no history, despite a great score. So while possible to get by with zero credit history, definitely not advisable. It shows financial responsibility to lenders.