re: Once again, credit scores are a scam

quote:

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Pay off your mortgage, and after some time your score will likely be less than a similar person who is timely paying on a big mortgage debt.

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My son was 21 years old and my dad was 75. Dad had no debt and plenty of money in the bank and in investments. Paid cash for his last few cars, house paid off for decades, etc. He and my son went to look at apartments and the rental office suggested running my dad’s credit for the lease. They turned him down because of “no credit.” My son, however, was fine as far as credit even though he was a college student with a fast food job. WTF.