🔺 r/personalfinanceuManowarUK·18 days ago
Does my credit score (US) matter if I have no intention of borrowing money?
Hello. European here, recently moved to the US from the UK. This post is longer than I hoped it would be, but I felt some clarification might be required. The concept of "credit score" exists in the UK as well, of course, but I couldn't tell you what mine was if you held a gun to my head. I had a credit card for about 11 months over a decade ago (not by choice, banks required some credit history for a mortgage). I didn't have one before, nor since (until now). We bought a house in the UK using a mortgage, but we paid it off 3 years later. No "credit" or credit card since (again, until now) We moved to the US and EVERYONE tells me we "need" a good credit score (whatever we had back in the UK doesn't count here, apparently) My question is...do we? We have no intention of borrowing money for anything at any point. Whatever we might need, we'll simply...pay for. We're what we call middle-class (strictly from a financial point of view). We'll probably buy a house or two at some point, but that/those will be mostly funded by the sale of our house in the UK, so we won't need a mortgage, as houses here are significantly cheaper. Given the circumstances, do we actually NEED whatever is cons…