Do you know that, according to FICO, more than 50 million FICO score qualified people have no credit score at all? Having said that, we should urge you to check your own report. It might be crucial to keep the right track of your current credit score. Let us explore this topic a little closer.

Why People Have No Credit Score

First of all, there is no need to panic. If you have no score, it does not necessarily mean that you are facing a negative situation. Such situations do not imply that you have a poor score. As a matter of fact, this issue can happen for a variety of reasons:

• You have not requested a loan in the previous 7 years.
• You are too young or just graduated from college and have no credit history.
• Your current lenders did not provide any info to the three credit bureaus in the US.
• You have had inactive bank accounts for the previous 2 years.
• You have relocated to another country.
• Your credit was not used for the previous 6 months.

Article that may interest you: What Is a Credit Score and Why Is It Important?

What Can You Do Without a Score?

• • Credit Builder Loans – this kind of loan means you have to pay up before you get your funds.
  • Secured Credit Cards – such cards will help you create your credit history, which is obligatory to applying for a traditional credit card.
  • Store Credit Cards – these cards are issued by retail stores all over the country and also help build your credit score.
  • Cosigner – find a person with a good credit report who can vouch for you and cosign your loan.
  • Credit Card Authorized User – you can become one for a family member or friend and start using their card to build your own score.There are a few things you can achieve if you currently have no credit score at all. Your possibilities are as follows:

As you can see, there is no need to worry when you have no credit score. Such a state is only temporary, and you can build a wonderful credit history pretty quick.