What sucks about credit score is that if your 100% disabled like my son, and on SS Disability, you cannot have a savings account to save for anything. Car, house, whatever. If you open an account and put money into it, the feds will reduce your SS payments. Any savings have to be put in a sock and put under the bed.
When you finally want Independence from renting, and want to buy your own home, you have a low credit score as you had to pay cash for everything. You have no down payment you can show because the feds won't allow saving under SS disability.
Your interest rate is determined in some part by your credit score. The whole credit score scam is a mess.
When you finally want Independence from renting, and want to buy your own home, you have a low credit score as you had to pay cash for everything. You have no down payment you can show because the feds won't allow saving under SS disability.
Your interest rate is determined in some part by your credit score. The whole credit score scam is a mess.