What is the average credit score for someone who has not established much credit?
Answer:
you're probably around 600 to 650. you probably should think about getting a couple of store cards and that will help your credit file.
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You need to build your credit for at least a year - showing regular payments before trying to apply. Also, if you keep applying, those are going to show up negatively on your record for two years. They consider it bad because it looks like you are desperate to get money, and they want people who show responsibility with money (i am not trying to put you down at all. I have the same problem and I am waiting it out. I am almost there now, finally getting the inquiries off my record).
By law, you can get your credit report from each of the three agencies for free once a year. If you have not done that, you need to. Go to www.annualcreditreport.com and it will give you links to each credit site to get your free report. It will also give you tips and advice on improving your score.
If you need a loan now, you are going to have to find someone to co-sign who has a great credit history. Otherwise, you gotta wait it out.
Also you can check out this sight for more questions and answers: myFICO.
Good luck!
You probably have: $200. to $500. credit. You'll need a lot more to finance a home! No deal. But then again, here in California, are anouncing, if you don't have money, bad credit, you can still get a house!!
usually you break out with a 550 -600 with your first line of credit
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