Anyone know what to do for a "thin file" credit score?

Question

So I've only had one credit card in my life and I've managed to pay off all my student loans. Unfortunately,  I had late payments on my student loan and some medical bills. Today, I've managed to pay off all my debts but I was so scared to apply for new credit. My score was going up little by little until I last checked it and it wasn't there. It said I had a "thin file" meaning I didn't have enough credit history to generate a score even though I had a score before. Anyone else run into this? What can I do to correct this?

? · Accepted Answer

Depends on how long ago you paid off your loans and had late payments. They might all be off your record now, or have been so long ago that they have no real affect anymore.

You should get a credit card or two and use them often but pay off the bills each month, never being late or missing a payment. After a while your score will begin to rise. It takes time but the time to start is now.

? · Answer

Keep your credit card active. Buy something small once a month and pay it off after the bill comes, just to keep some activity on it.

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Anyone know what to do for a "thin file" credit score?

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