Don’t fall for this credit myth – no credit history is good credit history

House Logic has some tips that might help even seasoned home buyers. Today we’re featuring…

Myth #4: If you’ve never had credit, you have a perfect credit score.

Reality: There’s no reason to save your credit virginity for that special something. If you’ve never used credit, it’s anyone’s guess how well you’ll handle it once you do. Credit reporting agencies call it a “thin file,” meaning there’s not enough information on you to create a credit score. So if you’re a newbie, get an itty-bitty card or loan, and starting fattening up that file.

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