Is it Bad to Have No Credit Score?

Quick Answer

Lack of a credit score is far from the worst thing in the world, but it can make a number of activities more complicated, including:

Taking out a loan
Opening a credit card account
Renting a house or apartment
Getting a rental car
Obtaining cellphone, cable TV or internet equipment

Here are tips on how to get a credit score as quickly as possible.

A young man wearing a gray shirt has his hand to his head and his journal on the table while he looks at his laptop screen.

Not having a credit score isn't necessarily bad, but it's not ideal. It can prevent you from qualifying for loans, credit cards and housing and complicate your ability to rent cars and get cellphone and cable subscriptions. Establishing credit as early as possible is a good way to set yourself up for the future.

What It Means to Have No Credit Score

People who have no credit history are known as credit invisible. Credit invisibility is typically due to the lack of credit accounts or the result of not using credit for a long period of time, resulting in information being removed from your credit history. With no credit history, there is nothing that can be used to calculate a credit score.

Your credit reports record your history of borrowing money and repaying debts, and a credit score is calculated using data recorded in one of your credit reports. The common reason for credit invisibility is the lack of any credit report, meaning you have no credit accounts in your name. This is common among young people over the age of 18 (the youngest age at which you can legally borrow money) who haven't yet applied for or obtained any loans or credit, but it also can affect older individuals who've never had credit in their own names and recent immigrants of all ages.

It's possible to be credit visible if you have credit reports but not able to have a credit score calculated because they reflect no use of borrowed money or debt payments in the past six months. This occurs most commonly among retirees who may have paid off their mortgages and other debts, and have no open loans or active credit cards for an extended stretch of time.

Why It Matters to Have No Credit Score

Difficulty getting credit: The main reason credit scores and reports exist is so financial institutions, credit card issuers and other lenders can gauge the likelihood you'll repay your debts as agreed. It's not surprising then that being credit invisible can make it difficult to get loans and credit cards.
Issues with housing rentals: Many landlords and property management companies check credit scores as part of their tenant-screening processes. The lack of a credit score isn't grounds for denying you housing, but if there are multiple applicants for the same unit, it's possible that someone with a strong credit score will be chosen over an applicant with no score. What's more, if a credit-invisible applicant secures an apartment, many landlords will charge them a higher security deposit than they would an applicant with an established credit history. That's because the lack of credit experience can mean a higher risk of missed or late rent payments.
Higher security deposits: Housing isn't the only realm in which lack of a credit score can result in higher deposit requirements. Cellphone carriers who let you pay off a new phone in installments, and cable and internet providers who lease equipment may check your credit and charge you higher security deposits if you're credit invisible.
Car-rental challenges: Car rental companies typically require you to present a credit card when you pick up your vehicle. If you use a debit card, the car-rental company may check your credit score before agreeing to give you a vehicle. If you have no credit score, you might not be able to rent a car at all.
Employment concerns: Employers, especially when hiring for jobs with financial responsibilities, may check a special version of your credit report to gauge your ability to handle money responsibly. Employer credit checks don't include credit scores, but the hiring company won't be able to complete this step if you're credit invisible and you could lose out to another applicant with a proven credit track record.

How to Build Credit

Establishing a credit history when you don't have a credit score may sound impossible, but there are proven strategies for becoming credit visible:

Become an authorized user on a friend or relative's credit card. You get a card in your name and many lenders report the payment history to the authorized user's credit report as well as the primary account holder's. That account history can help you establish credit reports in your name so a credit score can be calculated. As long as the account is managed responsibly, those on-time payments can help your scores improve over time.
Get a secured credit card. With a secured credit card, you make a cash deposit as collateral, and that amount typically serves as your borrowing limit. As long as your lender reports to the credit reporting companies, using the card and making timely payments each month can help you establish a positive payment history and show lenders that you know how to use credit responsibly. Consistently making on-time payments will help you build your scores over time and, after six months to a year, can potentially enable you to qualify for a traditional unsecured credit card.
Consider a credit-builder loan. Available through many credit unions, these specialized loans help the credit invisible and individuals with damaged credit establish good payment records and save some money at the same time. Here's how they work: You borrow a small amount—typically less than $1,000—that the lender puts in a savings account you can't touch instead of turning over to you in a lump sum. (If you fail to make required payments, the lender can keep the loan amount.) When you repay the loan, the savings account is yours—and if the lender reports your account to all three credit bureaus (Experian, TransUnion and Equifax), your payments will have established credit reports and ended your credit invisibility. It typically takes about six to 24 months to repay a credit-builder loan.
Enroll in Experian Go™. This free program allows you to create your own Experian credit report even if you're credit invisible. Experian Go works in conjunction with Experian Boost^®^ø, which can help you become immediately scoreable by adding your history of on-time utility, cellphone and streaming-service payments to your Experian credit report.

The disadvantages of credit invisibility are numerous, but with a little effort, it's possible to "be seen" and reap the benefits of greater access to credit. To keep tabs on your progress establishing your credit, create an Experian account to see your credit report and score for free, or download the Experian app.

How Long Does It Take to Establish a Credit Score?

Establishing a credit score can be somewhat time-intensive: Typically, within a few weeks after you open your first loan or credit card account, the lender reports it to the national credit bureaus and then, within a few weeks, you'll have a credit report established at each bureau. Only after a credit report reflects an account that has been open for at least six months, with at least one payment reported during that period, will it be able to be used to generate a FICO^® Score^☉ .

Experian Go™, on the other hand, allows you to establish an Experian credit report instantly and potentially start building your credit history right away by using Experian Boost to add regular bill payments you've made in the past. Experian Go can also help you determine other options for building credit by asking a few questions about your income and finances. Besides saving you the month or two that's typically required for your credit report to appear, Experian Go offers guidance on how to establish a credit score as quickly as possible. Depending on your responses, it could lead to credit offers that let you open an account quickly and start logging scoreable credit activity right away.

The Bottom Line

There are far worse problems in life than lack of a credit score, but credit scores are used in so many ways these days that for many individuals, establishing credit reports and credit scores sooner than later can make everyday activities much easier. Doing so also lets you begin building up your credit scores, so you'll have the financial flexibility to finance large purchases in the future.

How Good Is Your Credit Score?

300 credit score 301 credit score 302 credit score 303 credit score 304 credit score 305 credit score 306 credit score 307 credit score 308 credit score 309 credit score 310 credit score 311 credit score 312 credit score 313 credit score 314 credit score 315 credit score 316 credit score 317 credit score 318 credit score 319 credit score 320 credit score 321 credit score 322 credit score 323 credit score 324 credit score 325 credit score 326 credit score 327 credit score 328 credit score 329 credit score 330 credit score 331 credit score 332 credit score 333 credit score 334 credit score 335 credit score 336 credit score 337 credit score 338 credit score 339 credit score 340 credit score 341 credit score 342 credit score 343 credit score 344 credit score 345 credit score 346 credit score 347 credit score 348 credit score 349 credit score 350 credit score 351 credit score 352 credit score 353 credit score 354 credit score 355 credit score 356 credit score 357 credit score 358 credit score 359 credit score 360 credit score 361 credit score 362 credit score 363 credit score 364 credit score 365 credit score 366 credit score 367 credit score 368 credit score 369 credit score 370 credit score 371 credit score 372 credit score 373 credit score 374 credit score 375 credit score 376 credit score 377 credit score 378 credit score 379 credit score 380 credit score 381 credit score 382 credit score 383 credit score 384 credit score 385 credit score 386 credit score 387 credit score 388 credit score 389 credit score 390 credit score 391 credit score 392 credit score 393 credit score 394 credit score 395 credit score 396 credit score 397 credit score 398 credit score 399 credit score 400 credit score 401 credit score 402 credit score 403 credit score 404 credit score 405 credit score 406 credit score 407 credit score 408 credit score 409 credit score 410 credit score 411 credit score 412 credit score 413 credit score 414 credit score 415 credit score 416 credit score 417 credit score 418 credit score 419 credit score 420 credit score 421 credit score 422 credit score 423 credit score 424 credit score 425 credit score 426 credit score 427 credit score 428 credit score 429 credit score 430 credit score 431 credit score 432 credit score 433 credit score 434 credit score 435 credit score 436 credit score 437 credit score 438 credit score 439 credit score 440 credit score 441 credit score 442 credit score 443 credit score 444 credit score 445 credit score 446 credit score 447 credit score 448 credit score 449 credit score 450 credit score 451 credit score 452 credit score 453 credit score 454 credit score 455 credit score 456 credit score 457 credit score 458 credit score 459 credit score 460 credit score 461 credit score 462 credit score 463 credit score 464 credit score 465 credit score 466 credit score 467 credit score 468 credit score 469 credit score 470 credit score 471 credit score 472 credit score 473 credit score 474 credit score 475 credit score 476 credit score 477 credit score 478 credit score 479 credit score 480 credit score 481 credit score 482 credit score 483 credit score 484 credit score 485 credit score 486 credit score 487 credit score 488 credit score 489 credit score 490 credit score 491 credit score 492 credit score 493 credit score 494 credit score 495 credit score 496 credit score 497 credit score 498 credit score 499 credit score 500 credit score 501 credit score 502 credit score 503 credit score 504 credit score 505 credit score 506 credit score 507 credit score 508 credit score 509 credit score 510 credit score 511 credit score 512 credit score 513 credit score 514 credit score 515 credit score 516 credit score 517 credit score 518 credit score 519 credit score 520 credit score 521 credit score 522 credit score 523 credit score 524 credit score 525 credit score 526 credit score 527 credit score 528 credit score 529 credit score 530 credit score 531 credit score 532 credit score 533 credit score 534 credit score 535 credit score 536 credit score 537 credit score 538 credit score 539 credit score 540 credit score 541 credit score 542 credit score 543 credit score 544 credit score 545 credit score 546 credit score 547 credit score 548 credit score 549 credit score 550 credit score 551 credit score 552 credit score 553 credit score 554 credit score 555 credit score 556 credit score 557 credit score 558 credit score 559 credit score 560 credit score 561 credit score 562 credit score 563 credit score 564 credit score 565 credit score 566 credit score 567 credit score 568 credit score 569 credit score 570 credit score 571 credit score 572 credit score 573 credit score 574 credit score 575 credit score 576 credit score 577 credit score 578 credit score 579 credit score

580 credit score 581 credit score 582 credit score 583 credit score 584 credit score 585 credit score 586 credit score 587 credit score 588 credit score 589 credit score 590 credit score 591 credit score 592 credit score 593 credit score 594 credit score 595 credit score 596 credit score 597 credit score 598 credit score 599 credit score 600 credit score 601 credit score 602 credit score 603 credit score 604 credit score 605 credit score 606 credit score 607 credit score 608 credit score 609 credit score 610 credit score 611 credit score 612 credit score 613 credit score 614 credit score 615 credit score 616 credit score 617 credit score 618 credit score 619 credit score 620 credit score 621 credit score 622 credit score 623 credit score 624 credit score 625 credit score 626 credit score 627 credit score 628 credit score 629 credit score 630 credit score 631 credit score 632 credit score 633 credit score 634 credit score 635 credit score 636 credit score 637 credit score 638 credit score 639 credit score 640 credit score 641 credit score 642 credit score 643 credit score 644 credit score 645 credit score 646 credit score 647 credit score 648 credit score 649 credit score 650 credit score 651 credit score 652 credit score 653 credit score 654 credit score 655 credit score 656 credit score 657 credit score 658 credit score 659 credit score 660 credit score 661 credit score 662 credit score 663 credit score 664 credit score 665 credit score 666 credit score 667 credit score 668 credit score 669 credit score

670 credit score 671 credit score 672 credit score 673 credit score 674 credit score 675 credit score 676 credit score 677 credit score 678 credit score 679 credit score 680 credit score 681 credit score 682 credit score 683 credit score 684 credit score 685 credit score 686 credit score 687 credit score 688 credit score 689 credit score 690 credit score 691 credit score 692 credit score 693 credit score 694 credit score 695 credit score 696 credit score 697 credit score 698 credit score 699 credit score 700 credit score 701 credit score 702 credit score 703 credit score 704 credit score 705 credit score 706 credit score 707 credit score 708 credit score 709 credit score 710 credit score 711 credit score 712 credit score 713 credit score 714 credit score 715 credit score 716 credit score 717 credit score 718 credit score 719 credit score 720 credit score 721 credit score 722 credit score 723 credit score 724 credit score 725 credit score 726 credit score 727 credit score 728 credit score 729 credit score 730 credit score 731 credit score 732 credit score 733 credit score 734 credit score 735 credit score 736 credit score 737 credit score 738 credit score 739 credit score

740 credit score 741 credit score 742 credit score 743 credit score 744 credit score 745 credit score 746 credit score 747 credit score 748 credit score 749 credit score 750 credit score 751 credit score 752 credit score 753 credit score 754 credit score 755 credit score 756 credit score 757 credit score 758 credit score 759 credit score 760 credit score 761 credit score 762 credit score 763 credit score 764 credit score 765 credit score 766 credit score 767 credit score 768 credit score 769 credit score 770 credit score 771 credit score 772 credit score 773 credit score 774 credit score 775 credit score 776 credit score 777 credit score 778 credit score 779 credit score 780 credit score 781 credit score 782 credit score 783 credit score 784 credit score 785 credit score 786 credit score 787 credit score 788 credit score 789 credit score 790 credit score 791 credit score 792 credit score 793 credit score 794 credit score 795 credit score 796 credit score 797 credit score 798 credit score 799 credit score

Resources

Credit Score

Credit Report

Fraud & Identity Theft

Improve Credit

Personal Finance

Calculators

Is it Bad to Have No Credit Score?

In this article:

What It Means to Have No Credit Score

Why It Matters to Have No Credit Score

How to Build Credit

How Long Does It Take to Establish a Credit Score?

The Bottom Line

What Makes a Good Credit Score?

How Good Is Your Credit Score?

Resources

Latest Research

Latest Reviews

Credit support

Credit advice

Most popular

Credit reports

Credit scores

Improving credit

Establishing credit

Identity Theft support

Identity Theft Advice

Most popular

Identity theft and fraud

Cybersecurity

Privacy

Money advice

Most popular

Digital checking account

Save money on bills

Credit Card advice

Most popular

Balance transfer

Cash back

For bad credit

For fair credit

For students

APR

Rewards

New to credit

Loan advice

Most popular

Debt consolidation

Personal

Auto Insurance advice

Most popular

In this article:

What It Means to Have No Credit Score

Why It Matters to Have No Credit Score

How to Build Credit

How Long Does It Take to Establish a Credit Score?

The Bottom Line

What Makes a Good Credit Score?

How Good Is Your Credit Score?

Resources

Latest Research

Latest Reviews