Dave Ramsey Host George Kamel: Can You Rent an Apartment With No Credit History?
Written by
Katie Wudel
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Dave Ramsey Show host George Kamel tackled a common misconception surrounding credit scores and renting apartments. Contrary to popular belief, Kamel says a lack of credit history doesn’t necessarily hinder your ability to rent a home or apartment. Here’s what Kamel shared about living a debt-free lifestyle and some of the alternative pathways to renting without relying on credit scores.
Debunking the Credit Score Myth
During an episode of his show, Kamel says you don’t need a credit score to secure a rental. While a bad or low credit score can adversely affect your rental options or terms, not having a credit score is an entirely different scenario.
Renting without a credit score is widely accepted and manageable with the right approach. To substantiate his claim, Kamel contacted property managers across the United States, confirming that not having a credit score isn’t a universal barrier to renting.
Key Requirements for Renters
A key takeaway from Kamel’s exploration is that employment status, a clean background check, and the ability to afford a potentially higher security deposit are the primary requirements for most landlords. This deposit is refundable, making it a manageable hurdle for most prospective renters. However, Kamel warns against complacency.
In some cases, rental complexes might request a third-party guarantor for those without a credit history. He advises against co-signers but suggests calling around, researching, and being flexible in your housing search.
Living a Debt-Free Life
Why is living without a credit score so important to Kamel? He says he prefers to live without debt. For him, maintaining a credit score often implies participating in a system that encourages debt accumulation.
Kamel argues against using debt to pay for expenses that can be covered by cash. This way, it’s possible to avoid the trap of constantly seeking ways to maintain or improve a credit score – a pursuit he views as unnecessary and counterproductive to financial freedom.
Simplicity in Financial Matters
Kamel’s approach is about simplicity and intentionality in financial matters. Without a credit score, there’s no need to obsessively track it or employ ‘hacks’ seen on social media to improve it.
It’s a stance that values financial stability and the ability to manage life’s necessities, like renting an apartment, without depending on credit. This path requires more effort but, in Kamel’s view, it’s a worthy trade-off for a life free from the burdens of debt.
George Kamel’s Book
Kamel wrote a book titled Breaking Free from Broke: The Ultimate Guide to More Money and Less Stress. He says he wants to educate others on how to live a life unshackled by credit scores. This book is a resource for those looking to delve deeper into this lifestyle. Kamel discusses living without credit and explores practical topics like renting cars without a credit card.
Bottom Line
Kamel’s insights offer a new perspective on renting apartments without a credit history. His approach aligns with Ramsey, who advocates for a debt-free life and challenges conventional wisdom about credit scores. Kamel’s message is one of empowerment, providing practical advice for those looking to navigate their financial journey without relying on credit scores.
Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.
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