I have zero credit. Is it possible to have a negative credit score?

I was denied an American Express card, and I need to try something else. Since I have no credit points, will my credit score remain at zero or will it drop into the negative spectrum?

I have zero credit. Is it possible to have a negative credit score?

no. don%26#039;t get hypnotized by %26quot;credit scores%26quot;. it has nothing to do with your self worth, it only gives the lenders an indication of your willingness to pay back money you loaned. If you%26#039;ve never %26quot;lent%26quot; any money, no one has a record of your payment history, therefore you have a zero, which tells all lenders you are a novice. Who trusts a novice? :)

All credit card purchases are loans, you know. and it makes no sense to get a credit card without steady income.

I have zero credit. Is it possible to have a negative credit score?

Negative %26#039;credit score%26#039; - nothing like that. They search your available and past credit transactions - if you have never availed any credit - you have zero score. We may observe that only credit worthy persons are allowed credit - the score helps to know the past only

I have zero credit. Is it possible to have a negative credit score?

People with bad credit or poor credit are often face difficulties in obtaining a credit card. The fact is indeed true that their choices are limited when it comes to credit cards but, credit card issuers are increasingly offering financial products that specially cater to bad credit people.

Bad credit problem can be caused due to a number of situations. The credit card choices available to bad credit people allow them to rebuild their credit history. Financial products that help bad credit people are prepaid credit cards or debit cards, secured bad credit cards, unsecured bad credit cards.

Prepaid or debit cards:

These are the easiest option available for bad credit people. There are no verifications, no credit checks, no employment requirements, and the approval is instant. All they have to do is to deposit a money and a prepaid card is issued. This card has the borrowing or buying capacity equivalent to the funds deposited. The good thing with prepaid credit card is that it promotes financial discipline. Some prepaid card issuers report to various credit rating agencies, thus it helps in rebuilding your credit history. Apply online at: http://www.credit-card-gallery.com/PrePa...

I have zero credit. Is it possible to have a negative credit score?

There are several different cards for you to try and apply for, and as soon as you get one you can begin increasing your credit score.

Other credit card or financial institutions will extend credit to you, although it may not be much as first. As you develop a good repayment history, your credit line will be increased.

To answer your question, your credit score never becomes %26quot;negative%26quot; but ranges from about 350 to 800.

I have zero credit. Is it possible to have a negative credit score?

FICO reports from 300 to 850 anything that calculates to below 300 defaults to a 0 there is no such thing as a negative score.

Get the free book I listed to learn how credit works.

I have zero credit. Is it possible to have a negative credit score?

There is no such thing as a zero FICO score (300-850 is the range). Your problem is evidently a lack of credit history, not poor credit history. Try starting with a secured mastercard or a store credit card (Sears, Target, etc.).

I have zero credit. Is it possible to have a negative credit score?

That%26#039;s a great score. That just means you can live without borrowing money.

Don%26#039;t start playing the credit card game. The credit card industry is a billion dollar a yr industry and they don%26#039;t lose at their game. You will. Once you start losing at the credit card game it%26#039;s hard to get out of the game. High interest rates that they can raise for any reason. Outrageous over the limit and late fees.

The only thing you might have to borrow for is a house. You can do that without a fico score with manual underwriting. It%26#039;s not a sub prime loan. It%26#039;s the way it was done before the I love debt score. You can get the same low interest rates.

Debt free is the way to live.

Wow! 4 thumbs down. The bankers and credit card people are out today.