If you simply don't have a credit score because you have no history with credit, you likely have a thin credit file. That means you have few (if any) credit accounts listed on your credit report.
A credit report is basically a record of your history managing and repaying debt. It works as a kind of report card lenders use when deciding the amount of loan to give you.
Generally, a thin file means a lender is unable to calculate a credit score because there is not enough information in a user's credit history to do so.
Should that be your case, what can you do to 'fatten' up your thin credit file?
Well there are a couple of things that you can do to achieve that aim but I will just touch on one method which happens to be the easiest and most common - applying for an unsecured personal loan.
Unsecured loans aren't backed by collateral, so they are harder to get than secured personal loans. Fortunately, with OPesa Loan App you can be able to apply for an unsecured loan of between Sh1,500 and Sh50,000.
OPesa Mobile loan app employs top-notch AI technology to determine your credit score and whether you can be able to repay the loan. Sounds good? Definitely, it is a good starting point towards building your credit score from scratch.
Once you have your loan, remember making on-time repayment will go a long way to bolster your credit score.
It is also worth noting that a good credit score give you the ability to among other things; obtain loans anywhere, improve your lifestyle through purchases that are only possible through borrowings and have the resources to pay for unexpected emergencies.