Where this was said
Louise: My Fiancé Wants to Carry a Credit Card Balance to Build Credit
At 46:42 · chapter starts 44:48
Louise and her fiancé are both 27, have $20,000 saved for a wedding and $20,000 in an emergency fund, and are debating financial strategy before marriage. Her fiancé wants to run a balance on their shared credit card to build credit; Louise senses something is wrong but can't articulate why. Dave obliges with a full breakdown: the FICO algorithm measures debt interaction — how much you owe, what kind of debt, whether you pay on time — and nothing else. [1] — Dave Ramsey "A FICO credit score isn't a measure of financial health. It's a measure of how deeply you're entangled with debt. Dave calls it the 'I love…" 44:48 He calls it an 'I love debt score.' Dave and Rachel then pivot to the bigger concern: Louise and her fiancé are not financially aligned, and misaligned financial values are consistently among the top three causes of divorce. Dave also warns strongly against the engaged couple sharing a credit card — if the relationship ends before marriage, the financial exposure is severe. His parting advice: set a wedding date now, get married, and cut up the card.
A FICO credit score isn't a measure of financial health. It's a measure of how deeply you're entangled with debt. Dave calls it the 'I love debt score' and explains why chasing it is the opposite of building wealth.
Dave Ramsey argued that a FICO credit score is not a measure of financial health but of how deeply someone engages with debt — the higher it is, the more someone has been 'playing kissy-face with the bank.'
