All over the internet, it is said that it depends, but not on what.
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Howdy bro ,credit scores are determined by your credit history, and if you haven’t used any credit yet, there is no history for the bureaus to evaluate. They only assign scores once they have sufficient information to assess your creditworthiness.
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Hello, Lucas. When you first start, your score is officially zero or non-existent. FICO can take up to 6 months to obtain a score.
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I don’t actually have an initial credit score when I first start building credit. Credit scores are not assigned by default - they are calculated based on the information in my credit report, which doesn’t exist until I begin establishing a credit history. Once I open my first credit account, such as a credit card or loan, I will start to build a credit file. Over the next 3-6 months, the credit bureaus will collect information on how I use that initial credit and generate my first credit score, which will likely fall somewhere in the 500-700 range. My starting score depends on factors like payment history, credit utilization, and credit mix. By using credit responsibly from the beginning, I can work towards building an excellent credit score over time.
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In reality, you do not begin with a credit score which is high. You probably will not have a score at all if you have not used any credit at all. This is so because a number of factors, including your payment history, credit card balances, and length of credit history, are taken into account when calculating credit ratings. There would be nothing to establish a score on absent that history.