If you have never had a credit card, you have a neutral credit score of 650 as a baseline starting point. True or false?

There is no default or baseline credit score. If you have no credit accounts or not enough credit history to generate a score, you are considered credit invisible or unscorable. The Consumer Financial Protection Bureau estimates that approximately 45 million Americans fall into this category. Without a scorable credit file, you will be unable to access most traditional credit products, which creates a challenging catch-22 that secured credit cards and credit builder loans are specifically designed to solve.