This Is What Your FICO Score REALLY Means 

I have a fico of 837 and have never borrowed a lot of money. Just paid off what debt I had on time.

I paid off all My debt and something weird happened ... I HAVE MONEY!!

You don’t need a FICO score if you are a millionaire

Dave’s never wavered on this so no one should be shocked when he says it. I once heard FICO stood for Fake Indicator of Cash Opulence and I knew the person that said it was a big Dave fan.

This is simply not true. I have a 838 FICO and all that I do to get it is use my Costco credit card for everything I buy and pay it off every month - then I get a cash back check every March - costs me nothing.

I have no house or car payment but still have 820. It does have a warning that house debt is missing and my 820 could be higher if I did. 🤣

My 810 score helped me get a 2.5% interest rate on my home. It didn’t cost me “hundreds of thousands” of dollars to get a high score. That being said, yes consumer debt is dangerous and worth avoiding for most of the reasons Dave talks about all the time.

What they don’t tell you is insurance companies regularly check FICO scores. Having a low or no score will negatively affect your insurance rates

You all are missing the point. FICO is just a measure of how you handle borrowed money. The whole idea is that you live life without debt (cash only). From personal experience I can say it is INCREDIBLY REWARDING AND FREEING!

An unforeseen problem with a "undetermined" FICO score is that it is difficult to get utilities and will have to put up a sizable deposit with the Electric, Gas, Water, and most other utilities. Also, insurance companies use FICA scores for their risk assessments so ironically you'll be paying higher insurance rates.

Wow, I must be a unicorn. I’m proud of my 850 score and I love Dave Ramsey. You can do both, just like Church and Science, it’s not all or nothing, you can have both and not owe anyone anything.

Nah, what it really means is that it gives me the best terms possible on mortgages, resulting in lower fees and interest. It's a true money-saver. Proud of my 820 FICO score.

The middle portion of this video is golden!

😅I’m 9 months away from debt free 😂 they will never give me 24% interest again! “Cash, you can take my cash not my soul 😂”

Thank you for this information

I have an 810 Fico score. No car loans and building up my savings. Unfortunately I cant pay off a house out of pocket so I need it. I agree with Dave it is just that I am not that Rich.

My FICO score went from 846 to 820, and it says there have been no changes. I don't understand why. I JUST paid off my student loans a few months before it jumped up to >840

Congrats 🎉

100%!!! I hate debt! I am out of debt and I will never go back!

Completely disagree Dave I have a score over 800 and carry little to no debt! I’m cash rich and don’t use the banks for much other than storage!

Good job Kristina!

Dave should have an "I'm FICO Free" scream segment just like the "I'm Debt Free" scream segment.

I haven't had debt other than a mortgage for 10 years and my score went up to the 800's

I love my 804 Fico score. It’s great because I get so many airlines miles with free hotels and rewards. The banks have never made one penny off my “debt” because I never pay them interest because I pay off the card every month like click work.

Just TRY to get a mortgage without a FICO score. Yeah, Dave has talked about lenders who do "manual underwriting". They are VERY few & far between, and therefore, they can charge higher rates & fees.

I think once you have bought all the major things like your home, vehicles, etc... The fico score becomes pretty much irrelevant. If you are young and don't have many things, it's helpful to have a good score.

Congratulations, Christine 🎉🍻

The thing is, people with high fico scores usually don’t need to borrow money

Speaking facts and I'm new to building my credit

Nice plug for "Churchill Mortgage"! 🤣

Congratulations!!!!!!!

Unfortunately no one taught me this 30 years ago & I had to use credit to get through life. I had to get credit to get thru tough times years ago, pay for school, buy cars, etc. I’m proud of my 842 credit score, so I played kissy face with the bank! 😂 😂 I found Dave’s book in 2012, snow-balled paid off all my debt like the book says, about to pay off one house, but still got 3 mortgages left. I’ve got 8 mo. Emergency fund too. What’s next for me Dave?

Will you take the loan and are you reliable to pay it back, that is fico. I like your idea, don't borrow money. That was really hard to do, until I decided that I will just never borrow money again. The bills come in and I couldn't pay, well the bill just stays there until I can. It forced me to look at everything and close down all expenses possible. I am on Snap and pay my car insurance, didn't even have a phone for awhile. That is my true living standard. Borrowing money gives you a false sense that you are living better than you actually are. I think we are in trouble, all the people borrowing and living the good life would be homeless otherwise. The coming collapse might put an end to the borrowing when people need it the most.

I have no debt and house is payed for and I have an 821

Dave approached that situation really well!

Debt is a thief.

I thing Newest FICO scores like 10t are not 100% based with debt, it's also with other payments like paying your rend and utilities with your checking account and wether you get income in your checking account. In the future it's probably gonna have to do less and less to do with debt and more with paying everything and you could have a good score without having debt. So if you pay your rent on time for the last 2 years and you get income in your checking account it's gonna be easier to rent another place even you have 0 debt !

I like playing kissyface with the bank 😃

Debt is big business just make sure you're not the one who owes

828 baby!!! 💪🏻

Why do I still have a fico score? I have had no debt since paying off my student loans in Dec 2020. I still have a score!!!!!!

Some jobs check your score for responsibility and also landlords also for the same reasons

No reason to close accounts without annual fees.

Do you have a FICO score and or CC? This question seems was left out of Dave's largest survey of Millionaires. It would have been an amazing question to post if the results favored the narrative.

FICO score is a sham and ridiculous. My score recently dropped 14 points because I paid off my credit card, which I only used $536 and paid it off. My credit usage went from 1% to 0. I hate it all. Dropped because I paid my damn bill off. Went from 811 to 797 smh

Im addicted to playing kissy face with the banks. :/

This young women is going to win with money. She hitched her wagon to the right horse. Please Excuse the expression Dave.

I think Ramsey’s point is “STAY OUT OF BAD DEBT”. No one knows everything. But, the amount of debt young people are in is insane.

I thought he was gonna say Foolish Idiotic Credit Overspend lol 😂.

What happens to your car insurance rates when you your FICO score goes to Zero?

That sucks, I agree with everything

Is a FICO score the same thing as a credit score, or is there a difference? Not that it matters. The only number I want to be concerned with is the one I see when I check my saving account and checking account.

Congrats Kristina!

Do I still need to check my credit report every year?

You can build your credit high with small amounts of debt. Just a couple credit cards will do it. If you can live off cash, that’s the best way no doubt.

Hybrid works too.Have a super low balance auto pay while doing Daves program.the debt to income ratio is higher as you get rid of the debt and the FICO goes up.Once your debt free you can maintain the FICO as a foot in the door but pay cash for the items.

my friends say I'm stupid when I tell them my goal is debt free and a big fat 0 fico score, I just laugh at them for chasing their tails...

I have a FICO score of 712 but I’ve never borrowed money and I don’t have any debt how is this?

He had a George Carlin moment

It means lower interest. Lower than manual underwriting. Use cc's occasionally throughout the month and always paid in full. If you're not disciplined then sure they can be horrible.

have have a i have a FICO score over 800 and i been debt free for almost 20 yrs

How is she able to buy another house with no FICO score and if her record is swipe clean then what history payment does she have as proof?

How do you get an email of your FICO score?

This makes perfect sense.. if you’re rich and can pay for everything out right. Not really an option for 90% of people. I can see how it can be fun to brag about though.

I've been out of debt for 30 years I don't think any Bank likes me

So how do they buy a house with a zero FICO score unless they pay cash for it

Dave is on one with this one.

Credit is a powerful tool, that if used properly can help build wealth. There is no doubt about that.

I like cash and am allergic to debt.

This personality is pretty cute 🎉

NOW I UNDERSTAND. WE WERE SELLING OUR HOUSE AND TRIED TO TO GET A BRIDGE LOAN AND BANKS SAID NO. WE HAD NO DEBT AND HAD OUR CURRENT HOUSE AND AND TALKED TO OUR FINANCIAL ADVISOR AND MADE US A $300000 LOAN. BUMMER

The Death Express When The Death Express rolls up to your door, the things that you’re doing, right or wrong you can’t do anymore! Life on earth is short at its best, for we all are facing the acid test. So when writing the poem (of life) make it rhyme, and it must be written on the shores of time. We must write it by faith, though we all like to see. But we can’t write this poem in eternity, so don’t sit on your seat until you hear the beep, get up and start now, awake out of your sleep! What am I sending on the other side? Before The Death Express comes (those wheels) to give us our ride? So get busy, do good, and get involved. And when The Death Express comes, your problems will be solved. Slow down; slow down, so that you may learn, don’t run ahead of our leader, you don’t know where to turn. Learn how to give, how to bear, how to share, Learn how to do good to men everywhere. Now you can watch for the signs as we go. Stay under the blood of Jesus, that washes white as snow. . When The Death Express rolls up to give you your first ride, who is your escort, with a heart full of pride? Too proud to listen, too stubborn to hear, But Wait! Those wheels, those dreadful wheels are rolling near. There’s an escort for every one and who will yours be? I want Jesus in the Holy Ghost to escort me! Speaking of space, there’s room to spare, for this train picks up men everywhere. It transport the rich and it transports the poor. It drops off one generation and returns for more. Those wheels, those dreadful wheels, those death wheels. Let’s face the facts now, and turn around. For why would you let sin forever hold you down? Repent, quit, be baptized in Jesus Name for remission of sins, receive the Holy Ghost and He will escort you in!

I agree, 100%

How do you buy a home without a FICO score because I can’t get a loan for a home for my 596 score

We pay everything on CC except tips and donations. Pay them on time every month. Don't know what our FICO score is, but when we bought our co-op in Manhattan, the board was impressed.

My FICO is over 800 and I haven't paid any interest but a few dollars decades ago

Thanks Dave

I mean, I suppose you can save up 350k (average home price) and buy it cash - not sure where you’re going to live in the mean time , I guess the hundreds of thousands of dollars lost on rent in the interim makes more sense ? 🤷🏾‍♂️

All of this sounds like bs

This guy raised his rent prices and kicked families to curb. Only because it’s the market price and he admits he didn’t have to do it.

The longer I live, the more I realize that FICO score is a massive scam. Can someone please explain to me how auto insurance rates are based on credit scores?

Hologram Dave is sassy

I’m thinking about going into debt to improve my credit. Lessssgo

Ok im 27 i dont get approved for anything, im trying to buy a house, how the hell am I suppose too? By savin 400$k cash? I understand what he is trying to say, but rn i need to build my Credit and get a property with a lower down payment.

I like Dave Ramsey but he’s wrong saying you have to go into debit to have a high credit score I know most people do but you don’t have to

Hey If a woman has a low fico score then it's deal breaker for dating

That is me. I save then pay.

My 800 fico score got me a 15 year 2.125 interest rate on my home.

Imagine if Dave has two applicants for one of his many Rental Properties. One has a 820 FICO, and the other has a undeterminable FICO. Which one does he pick?

I like this girl so much. She has a beautiful smile.

So how do you buy a house with bad credit?

I just collect the cards man it’s like getting a certificate for improving my score lol I don’t care about spending and flexing I’m 21 I want to be rich not pretend I am. Financially credit score is the easiest step to achieve that’s what I did

Just in case you're wondering, the whole segment was a pitch for Churchill Mortgage. They likely paid Dave millions to do it. Manual underwriting is few and far between.

this is total bs

I cant get a place to live without one tho..

I always pay cash My grandpa Always said if you can’t pay in cash you don’t need it . Or you need a job .

Have her landlord report her rent payments

Banks have to make money too.

It's your debt slavery compliance rating.

Four letter word for FICO