Why does credit score start at 300?

When people start using credit, they start building both a credit history and a credit score. What if you just opened your first credit account? Do you start with a zero credit score? communication Credit Sage Today and get a free breakdown of your credit score and how to improve it.

If you haven’t started using credit yet, you won’t have a credit score. You start building your credit score after you open your first line of credit. How you use the initial amount plays a role in how your first credit score is determined.

According to FICO, the minimum scoring criteria are as follows:

  • At least one credit account open for six months or more.
  • At least one credit account reported to one of the three major credit bureaus within the past six months.

What are FICO credit score ranges?

FICO scores range from 300 to 850, and are divided into the following categories:

  • exceptional: 800-850
  • very good: 740–799
  • well: 670–739
  • fair: 580–669
  • very poor: 300–579

Contrary to what many people believe, your credit score does not start at zero. It usually starts at 300 which is the minimum acceptable credit score FICO credit score the range

How do I access my credit report and credit score?

Many banks and credit card issuers give you access to free credit scores. Credit monitoring services provide weekly credit score updates. 3 main each Credit Bureau Allows you to get 1 free copy of your credit report per year.

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Your credit score doesn’t start from zero, but you need to make sure that no transactions or decisions you make will negatively affect your score.

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