Car Payment Dings Credit Score Below 700, Raising Job Security Issues; Dave Ramsey Labels Employers as 'Too Foolish to Work For'

Concern Over Credit Score: A Missouri man named Ren expressed worry about his credit score dropping below 700 after paying off his car loan, fearing it could impact his job stability in the IT sector where credit checks are routine.

Dave Ramsey's Advice: Financial expert Dave Ramsey reassured Ren that not having a credit score is not detrimental, and emphasized that being debt-free is more important than worrying about credit scores.

Critique of FICO Scores: Ramsey criticized the FICO scoring system, labeling it as a "sucker score" that only reflects payment behavior rather than true financial responsibility, arguing that significant wealth can exist without a high credit score.

Encouragement to Confront Employers: Ramsey encouraged Ren to confront employers regarding their credit check policies, asserting that being debt-free should not be seen as financially irresponsible.