What Happens If You Have No Credit Score?   Believe it or not, everyone should have a  credit score; even if it is as low as 300. 'No credit score' is detrimental to your  credit worthiness and financial standing. No credit score, means that your credit report shows inactivity for an extended period of time. In addition, some loan institutions may not have been reporting your activity on a consistent basis to provide information to the credit bureaus.

Most people without a credit history may be young college students or someone just starting out in life and trying to build their financial standing. Here is what happens if you don't have a credit score: 1. It is going to be very difficult to borrow money. The credit bureaus are not going to be able to provide enough information about you to the lenders, if you have little or no credit history.

2. Credit score will also determine if you will be approved for a loan and the interest rate that you will receive. 3. It can be difficult to rent an apartment as most landlords will run your credit from the three credit bureaus to make sure you can pay the monthly rent. 4. Not having a score might also affect  your job application. Many prospective employers look at your credit history to find out if you have a sense of responsibility. 5. Your auto insurance premiums will be much higher. Many auto insurance companies consider credit when underwriting your policy. 6. Most utility companies such as cell phone companies, insurance companies, thoroughly assess your information, especially, if you have no score.

7. Many mortgage lenders put most of the emphasis on your credit score. With no credit score you could pay a higher monthly mortgage loan payment. It is recommended that you do things like take out a loan, apply for a credit card, or get a prepaid credit card. Be sure to pay all your bills on time and  don't borrow more than you can afford..