If you have no credit, is that considered fair or poor credit?

Question

wow first answer guy you are so so so wrong, i already got a credit card.....and it was easy no hassle for it

Answer 1

http://blogevolve.com/no-credit-history-...

According to this article, it's worse to have no credit history than a bad credit history...

Answer 2

No credit isn't bad, but you should be careful if you are just starting out using credit, this is a good article to read about building your credit, http://www.monitorbankrates.com/how-to-b...

Answer 3

If you have a credit card you are already building credit which is good.  

If you want credit to buy something like a car...if you have a good down payment (30% or more) they will easily finance the balance no questions asked provided you can prove you have the income to pay it.

As you already have a credit card, assuming that is your only credit, then you are likely a fair rating, but each time you make a payment, and if you keep your balance low you are building credit.

If you want to get more specific- feel free to ask more!  LOL

Answer 4

Neither, it's worse.  It's no credit and good luck getting anything with no credit.  The best thing to do to get rid of no credit is to get a parent or older friend with good credit to co-sign with you for a credit card, apartment, and cell phone.  That way you can build up credit.  I'm in a similar boat.  Good luck!

Answer 5

No credit is basically the same thing as bad credit, that's what I've been told because I have no credit either.

When I get turned down for having no credit, I always ask them "Well, how am I supposed to establish credit if you don't give me something to work with?"lol..

Answer 6

It's considered No Credit. Here are ways to get credit if you have no credit.

Answer 7

It's considered neither.

Because you have no credit at all good or bad you can qualify for lots of first time buyers programs and credit cards as long as you meet their basic qualifications.

Answer 8

Unlike what some people have said here, the fact of the matter is that having no credit is BETTER than having bad credit. I used to have NO CREDIT and my credit union lent $3,000 on a personal signature loan. Now I have a very poor credit score of 540 and there isn't a bank or credit union that will lent me a penny. Not even the credit union which lent $3,000 in the past is willing to lend me money. Thus having no credit is better than having bad credit.