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Warren Buffet’s Sketchy Credit History
You’d think that being a billionaire would automatically mean your financial life would be fine. In fact, it would rule.But when Berkshire Hathaway gazillionaire Warren Buffet (seen here enjoying a Dairly Queen sundae) recently pulled his credit score from one of the the credit reporting agencies, his score was 718, Fortune reports (print only).
The Buff’s score is well below the national median of 723 and proves that even if you’re worth is high (even $62 billion dollars), you won’t necessarily have a high credit score. For more information about what actually does impact your credit score, check out this rockin’ pie chart from Fair Isaac.
In Buffet’s case, Fortune reports, the likely culprit is identity theft. Buffet’s report exposed 23 missed payments on a $294 loan at an HSBC branch in Nevada where Buffet says he never has had an account (although the idea of Buffet taking out such a meager loan is kind of cute). Besides, he probably won’t be applying for any auto loans soon, as he recently paid for his Cadillac DTS in cash.
For those of us who don’t mingle with billionaires with trampoline rooms, this serves as a reminder to stay on top of ordering three, free annual credit reports (one from each of the bureaus) and to consider the virtues of a credit report freeze.
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Please correct the income vs. assets issue. Buffett does not have $62 billion of income. He may have that much in assets, but that’s very different. That’s similar to a problem that the mainstream media frequently encounters — the difference between high income (self-explanatory) and rich (high net worth).
Thanks Brent - we just caught that one and fixed it. Tres embarrassing.
Yeah, I heard that Buffet only takes home 100K annually and lives in the same house he built in the 1950s!
Excellent webpage! I gave it a thumbs up with stumble and I Digged It too! Very informative and helpful about credit!
On that same subject I’d want to tell everyone about a company called Credit Assistance Network (in Florida) that helped me improve my credit scores. They were great! They didn’t remove everything negative but they did remove most of it. Even more importantly they gave me excellent advice to help me build my credit scores.
The website is http://www.creditagenda.com or http://www.expert-credit-advice.com
They did such a great job that I promised them I would tell everyone about them. Tell them Jim from Ohio recommended them!
