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Does having no credit cards or loans hurt your credit score?

May 14, 2011 Mortgage Loan
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I have had mortgages and credit cards and car loans, but now I have none at all. Is this bad for my credit score? Would getting just one low limit credit card be better than not having any at all?

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  1. Reply
    Gaytheist Buddha
    May 14, 2011 at 1:31 am

    Lack of active credit reduces your credit score. I wouldn’t say hurt. If you have a bankruptcy or judgment within the last 7 or 10 years, your credit score will be rock bottom.

  2. Reply
    Tom
    May 14, 2011 at 1:53 am

    You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments – credit-report-free.totalh.com

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