You might be surprised to learn that your starting credit score is not zero. You can start with and keep a high credit score over time by using credit responsibly.
This article is meant to be a general reference source; it is not meant to offer information specific to American Express goods or services. Similar goods and services provided by various businesses will differ in their features, so before purchasing any financial product, you should always read the product details.
Your initial credit score is determined by the way you handle money during the first six months of credit establishment.
You can begin with and keep a high score over time if you follow sound, responsible financial practices.
Prior to having a credit score, you don’t have one. It’s not 300, nor is it zero, which is typically the lowest possible score; it’s simply nonexistent. Although this is good news since it means you won’t have to start from scratch, there are a few things you should know in order to get your credit score started in a good range, maintain it there, and possibly even increase it.
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FAQ
What credit score does an 18 year old start with?
There is no initial credit score that applies to everyone. Rather, you probably don’t have a score at all if you don’t have any credit history.
What amount of credit do you start with?
Your credit score has a maximum of 300 points, but it doesn’t start at zero. However, the majority of people have credit scores that begin at 500 or above, and the average adult credit score is 716.
How long does it take to get a 700 credit score from 0?
Building credit from scratch typically takes three to six months, and you can even achieve a respectable score in less than a year. However, it will take a few years at the very least to establish excellent credit, and you’ll need to show that you consistently use your credit card responsibly.
Do you start with 300 credit score?
Some individuals are curious as to whether, for instance, everyone has a credit score of 300 (the lowest possible FICO score) at birth, or if it is zero. There is no such thing as a “beginning credit score,” in actuality. Each of us creates a distinct credit score based on how we use credit.
Read More :
https://www.bankrate.com/personal-finance/credit/what-credit-score-do-you-start-with/
https://www.capitalone.com/learn-grow/money-management/starting-credit-score/