At What Age Can You Check Your Credit Score?

A credit score serves as a numerical summary of an individual’s creditworthiness, helping lenders assess the risk associated with extending credit. There is no specific minimum age to check a credit score; however, a score only comes into existence when there is established credit activity reported to credit bureaus. This means an individual must first engage in financial actions that generate a credit history before a score can be calculated.

Age and Credit Score Eligibility

While there is no age restriction on looking at a credit score, an individual typically needs to be at least 18 years old to legally enter into most credit contracts independently. This age requirement is consistent across the United States for signing agreements like credit card applications or loan documents. Without the ability to legally open accounts, a person cannot establish the necessary credit history for a score to be generated.

A credit score directly reflects an individual’s financial behavior and borrowing history. If someone has never borrowed money or had credit accounts, they will not have a credit score, often referred to as having a “thin file” or “no file.” This absence is due to the lack of reportable credit activity, making building a credit history a prerequisite for a score to exist.

How Credit Scores Are Generated

Credit scores, such as the widely used FICO Score and VantageScore models, are derived from the information contained within an individual’s credit report. A credit report compiles an individual’s borrowing and repayment history from credit bureaus. This report includes personal identifying information, credit accounts, public records, and inquiries.

The data within a credit report is categorized to assess different aspects of financial responsibility. Key categories that influence score calculation include payment history, amounts owed, and the length of credit history. Other factors consider new credit applications and the variety of credit types, known as credit mix.

Strategies for Building Credit Early

Building credit early can provide a financial advantage, and several avenues exist for establishing a history. One common approach is to become an authorized user on an existing credit card account belonging to a trusted adult, like a parent. When the primary account holder manages the card responsibly by making timely payments, this positive activity can appear on the authorized user’s credit report, helping to build their history. It is important that the primary user maintains good payment habits, as their actions directly impact the authorized user’s developing credit profile.

Another effective strategy involves obtaining a secured credit card, which requires a cash deposit that typically serves as the credit limit. This deposit minimizes risk for the lender, making these cards accessible to individuals with little to no credit history. Consistent, on-time payments on a secured card demonstrate financial responsibility and are reported to credit bureaus, contributing to score development. After a period of responsible use, typically 6 to 18 months, some secured cards may even transition to traditional unsecured cards, and the deposit may be returned.

Student credit cards are also available for college students, often featuring lower credit limits and specific eligibility requirements. These cards can be a good starting point for young adults to build credit while managing smaller amounts of debt. Additionally, a credit-builder loan is a specialized financial product designed to help individuals establish or improve their credit. With these loans, the money borrowed is held in a savings account or certificate of deposit by the lender until the loan is fully repaid, and the payments are reported to credit bureaus.

For those without traditional credit accounts, ensuring on-time payments for certain recurring bills can also contribute to building credit. Some services allow rent payments to be reported to credit bureaus, and utility companies may report payment history, especially if accounts become delinquent. Proactively setting up such reporting mechanisms can help populate a credit file with positive payment behavior. Maintaining a consistent record of on-time payments across all financial obligations is paramount for developing a robust credit profile.

How to Check Your Credit Score

Once a credit history begins to form, individuals can check their credit score through several avenues. The official source for obtaining a free copy of your credit report from each of the three major credit bureaus—Equifax, Experian, and TransUnion—is AnnualCreditReport.com. Federal law allows consumers to receive one free report from each bureau every 12 months. It is important to note that these are credit reports, which detail your credit history, and while they do not always include a score, they provide the underlying data from which scores are calculated.

Many financial institutions, including credit card companies and banks, now offer free access to credit scores as a perk for their customers. These scores are often updated monthly and can be viewed directly through online banking portals or mobile apps. Additionally, several reputable free credit monitoring services provide regular access to credit scores and reports, along with alerts for changes in your credit file. These services often use one of the widely recognized scoring models to provide an estimated score.

For those who prefer to directly obtain their score, it is possible to purchase FICO Scores directly from myFICO.com or individual credit bureaus. The cost for purchasing a single score typically ranges from about $20 to $30, though package deals may be available.