*Loan,banking and credit>>>credit report

On my credit report...?

it says under TRANSUNION CREDIT SCORE/ANALYSIS;

We were unable to generate a credit score for you due to insufficient tradelines.

What does that mean??

Thanks.

It simply means that you do not have enough trade lines on your credit report to generate a score.

Credit scores are made up of the following;

1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio 30%

As you can see 1,2&5 are the most important as far as score is concerned but you need more then this for good credit, you also need a good profile.

This is achieved by having 3 credit cards (revolving) with balances below 30% of your credit limit and 2 cars, boats, homes, furniture or personal loans (installment) all with good long pay history's.

I look at credit every day and see people with 700 scores that can not buy a car because their score is made up of 1 credit card with a $500.00 limit paid 15-times and a couple of student loans.

While this produces a good score it doe's not really show the ability or the willingness to actually pay anyone.

It takes years to establish good credit and only a couple of months to destroy it. Source(s): Finance Manager for over 7-years.

It means you have nothing on your credit report, you have nothing there so no score can be generated.
It means that you need to establish small lines of credit and show that you are a responsible bill payer.
You need to build up some credit.

Go to a local Jewler and get a $200 item on credit. They will usually give you a 6 month loan. Pay this on time every month and this will start to build your credit. Good luck!