Whether it’s a student loan or financing for furniture, you can have a credit score with no credit card.
What Makes Up Your Credit Score If You Have No Credit Cards?
Consolidated Credit’s FInanical Education Director April Lewis-Parks explains how credit scoring models apply when a consumer doesn’t use credit cards. Learn what impacts your credit score besides the plastic in your wallet.
Hi, I’m April Lewis-Parks, Director of Education at Consolidated Credit. And we have a consumer question today, and it is, “Can I have a credit score without having a credit card?”
And the answer is yes. If you have any type of financing whatsoever ever extended to you, you probably have a credit score. But that doesn’t mean a credit card. If you have a car loan, a mortgage, student loans you certainly have a credit score. And there’s probably three, because there’s three credit reports and then there’s FICO.
So you should always check your credit score even if you don’t have any credit cards.
Do you have questions about credit cards or your credit score? Just ask us!