Credit Score Help

12,604
2,642
Joined Jan 22, 2010
Quick question, I looked up my credit score earlier and found out it is 650, which is below average
Now I was wondering how could it be like this?  I have never financed anything in my life and still live at home.  The only loans I have are 2 student loans which are less than $10k combined.  Is it the student loans that make my credit score low?
 
898
10
Joined Sep 9, 2004
you don't start with a high score and have it dropped.

you have to build. you start at 0.



now how to build good credit is another question.
 
5,974
350
Joined Aug 25, 2005
wow im surprised they even scored you at all with only 2 student loans.

basically what xanadu one said.
 
12,604
2,642
Joined Jan 22, 2010
Wow never knew that, i thought it was perfect to start with then dropped. Appreciate the info fams
 
4,170
137
Joined Feb 23, 2008
Originally Posted by WITNESSkb24

Quick question, I looked up my credit score earlier and found out it is 650, which is below average
Now I was wondering how could it be like this?  I have never financed anything in my life and still live at home.  The only loans I have are 2 student loans which are less than $10k combined.  Is it the student loans that make my credit score low?
This is your problem. In order to build a credit history/score, it is good to have a credit card. In fact, it's good to have a couple credit cards, because more credit cards mean you have a higher credit limit, which makes you a more desirable customer.  What's BAD is to pay your bills (credit, utility, car note, etc.) late, max out your limit, etc.  
go to bankrate.com and learn young man
 
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