Question*: Are there Americans who have SSNs like normal that really have no FICO score at all? Or is it usually a neutral one like 600–650 that is assigned at say age 18 before the person takes any credit out.
*from my YouTube channel.
Answer. This is a great question!
Initially, 18 year olds have no credit score. There is not a neutral score. There is not an assigned 600-650. There is just a void of you’re 17.5 years old to 20+.
The initial act of applying for credit involves a bank, financial institution, industrial loan corporation, or/and Victoria’s Secret just taking a big chance on you for $300.oo. Ditto, Home Depot.
Pay them back.
Paying the first person to credit underwrite you will build your FICO to 800.
Starting a FICO score is amazingly hard. If you apply for credit and get rejected, you’re starting off with one very, very large strike against you.