Obtaining Credit when you have no credit at all.


How to build credit from scratch

If you don't have a credit score, you might find that getting a car loan or a mortgage loan is very difficult. It is very important to have a healthy credit score. Not having a credit score at all is a problem.


Why Don't I have a Credit Score?

If you don't have a credit score it is because you don't have any "open and active" accounts. It doesn't matter if you have paid off multimillion dollar mortgages and exotic luxury automobiles, if you don't have anything that is currently "open and active" than you probably have a zero credit score.


What Does it Take to Have a Credit Score?

The minimum requirement to have a credit score is that you must have at least one account that has been "open and active" for at least 6 months.


What should I do if I don't have a Credit Score?

There are several things you can do if you don't have a credit score.

a. Reactivate an old account. If you have an account on your credit report that hasn't been used in the last 12 months, use the account. This can give you an instant credit score.

b. Get added on to someone's credit card account as an authorized user.

c. Open up a secured credit card and wait 6 months until it has enough history to generate a credit score.



Credit from no Credit