![]() This is common for younger people who haven’t established a credit history yet but can also impact older individuals as well as immigrants of all ages who haven’t used credit in their own name. Having no credit history or a thin credit profile means there isn’t enough information to generate a credit score. ![]() If you have no credit history, you fall into a category known as the “credit invisible.” This means you either haven’t used credit before, haven’t used it in such a long time that your previous history fell off of your credit reports or have a credit account that hasn’t been reported to the credit bureaus yet. A good credit score is usually considered to be 670 or higher. The higher your credit score, the less of a risk you’re seen as. Lenders consider this score when deciding whether to approve you for a loan. FICO is the most common scoring model and uses a scale from 300 to 850.
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