Why You Might Not Have a Credit Score — And How to Start Building One
A credit score is created based on your credit activity — like using credit cards, taking out car loans, bank loans, or financing purchases through stores.
If you’ve never had credit or haven’t used it in a long time, your credit report may show a note like “insufficient credit”, which means there’s not enough activity to generate a score.
Here’s how you can start building your credit report — and your score:
1. Open a secured credit card.
Search “secured credit cards” on Google. Compare offers and choose one with low fees and a reasonable interest rate. A secured card requires a deposit, which usually becomes your credit limit.
2. Become an authorized user on someone else’s credit card.
Make sure the card has a good payment history, has been open for a while, and has a balance. Only do this if you can help pay the bill — that’s when the activity is reported to the credit bureaus. Be sure the primary cardholder is financially responsible.
3. Reactivate old credit cards.
If you’ve had credit cards in the past that you no longer use, call the issuers to see if they can be reactivated. Sometimes, that’s all it takes to revive old accounts and start rebuilding your history.
4. Check your credit report.
Visit www.annualcreditreport.com to get your free credit report. Review it carefully and dispute any incorrect or unfamiliar information.
Need help?
Call The Credit Bureau at 800-518-1077 (Option 4) — we’re happy to walk you through the process.
