According to Experian, 99% of consumers have FICO scores higher than 470.
But if you have no credit history, you don’t have a score at all.
There are a few reasons why you might not have a score.
That’s because some lenders might only report your account activity to one of the credit bureaus or not report it at all.
What is my credit score if I have no credit?
No one has a credit score of zero, no matter how badly they have mishandled credit in the past. The most widely used credit scores, FICO and VantageScore, are on a range from 300 to 850. You haven’t used credit in at least six months. You have only recently applied for credit or been added to an account.
Is it possible to not have a credit score?
Dear NIC, It is very possible to not have a credit report. If you have no credit accounts, or have opened an account or accounts with lenders that do not report the payment status to a credit reporting company, you will not have a credit report.
Is having no credit the same as having bad credit?
No credit means you don’t have a credit record. Bad credit means you do, and you’ve made some big mistakes. It’s harder to bounce back from bad credit. If you have no credit, it means creditors don’t have a good way to predict how likely you are to pay your bills as agreed.
What if I dont have a credit score?
If you’ve never had any of these types of accounts, that explains why you don’t have a credit score. With no credit history, there is nothing to score. The FICO score requires at least one account that’s been active for six months. Once your account has enough history, you’ll be able to retrieve a credit score.