While many consumers fret over having low credit scores, others, including many seniors and young adults, face a less discussed challenge: Having no FICO score at all. Many of these folks, especially those with long credit histories, are clueless as to why they have no score.  Hopefully this post will explain why.

In order to have a FICO score, you must meet these three requirements:

  • Have no death certificate or death notation in your credit file;
  • Have at least one account in your credit file that’s a minimum of 6 months old;
  • Have at least one account in your credit file that has been updated in the last 6 months.

These criteria make it easy to see why college students or retirees who’ve paid off their mortgages, cars and other debts long ago have no scores. Remember that even positive tradelines can be removed from your report after 10 years.