Not having a credit score usually means there is no credit history for the credit bureaus to assess. Having no credit score could be the result of taking out loans and paying them off as quickly as possible without taking on any further debt. It could be that your lenders only report to one credit bureau instead of all three, so your credit score would only be available from the credit bureau aware of your credit history. Rarely, it could also mean that you have been erroneously reported to the credit bureaus as deceased.

Having no credit score is only a problem if you do not need credit. However, a credit score can affect your ability to qualify for a mortgage or get one at a good interest rate, rent an apartment, get approved for credit cards or have low annual percentage rates for the ones you do get. It can also impact your ability to get a car loan and affect the amount you pay for insurance or your cable rates. A lack of a credit score can also prevent you from getting hired.

Having a credit score of some kind is usually essential. High credit scores are built up over time, as you build a history of making payments responsibly. Start by applying for a credit card through your bank, applying for a secured credit card, applying for a credit card from a store, taking out and repaying a student loan or a personal loan, and putting bills in your name and paying them on time.

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