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an initial credit score

Does one start out with an initial credit score…and as you do well managing your credit cards does it stay at that level or not?

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Answer #1

Think of your credit score like you would a grade in school. A teacher calculates grades by taking scores from tests, homework, attendance and anything else they want to use, weighting each one according to importance in order to come up with a final single number (or letter) score. Your credit score is calculated in a very similar manner. Instead of using the scores from pop quizzes and reports you wrote, it uses the information in your credit report. So essentially if you have nothing to grade you have no credit. Which is not bad credit but it shows no history, which doesn’t help.

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