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What is the credit score of a person who has never had credit before?


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Answered 2007-01-21 07:36:46

You pretty much don't have a score. It's not impossible to get loans, but when you apply substantial down payments and/or high APRs may be a part of the loan. When you first start out on credit you still don't get a score, but I believe an initial score is established after 90 days. I believe they start you in the 600s because when I applied for a car loan my score was 615 after only 6 months of credit. This is why it's important to have credit cards at a young age so credit can be built. APR doesn't matter for the card, just carry a low balance and pay in full every month and those two things over a period of time (usually 3 years to get your "average" credit score) will give you a nice credit score. AND PAY ON TIME !

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