Dave Ramsey's listeners don't usually call "The Ramsey Show" to complain that his advice failed them. But Marsha from San Antonio broke that pattern when she dialed in with a bold declaration: "We followed your University course… we paid off our house, we paid off our car," she said. "And I went to get a silly charge card on TV, a shopping card, and we found out our credit score is zero. Our credit score was really, really low." It wasn't the victory lap Ramsey expected. Marsha believed she'd done everythi ...

Core Insights - Approximately 7 million U.S. adults, or 2.7% of the population, were classified as "credit invisible" in 2020, lacking sufficient credit history to generate a credit score [1] - Building a credit history is essential for financial activities such as taking out loans or purchasing a vehicle [1][2] - Mistaking approval for progress is a common mistake among individuals starting their credit journey [3] Group 1: Importance of Credit History - Many Americans begin their credit journey without any credit history, which can be intimidating [1] - Establishing a credit history is crucial for various financial reasons, especially for young adults or those hesitant to use credit [2] Group 2: Tools for Building Credit - Starting with a secured credit card, where a refundable deposit becomes the credit limit, is a recommended method to build credit [4] - Credit-builder loans can help individuals establish credit by locking in a small loan amount in a savings account, with repayment history reported to credit bureaus [4] - Being added as an authorized user on a trusted individual’s credit card can also help build credit without taking on primary responsibility [4]