Integrated Family Community Services 3370 South Irving Street, Englewood, CO 80110-1816 Ph: 303-789-0501

How Being New To Credit Can Be An Advantage

Almost everyone will start out in their young adult years with minimal or no credit history. At first glance, it can be a disadvantage to have no established credit history. After all, without a good credit rating, you may not qualify for the best rates and terms on loans and credit cards. You may also have to pay higher deposits when you are opening utilities accounts and more. While there are some downsides associated with having minimal or no established credit history, there are some advantages associated with being new to credit as well.

You Are Not Burdened With Debt

Many people who have a high credit score work unfortunately hard to maintain their good rating. This is because many people will fall heavily into debt and will have to work hard to lower debt balances and to make payments on time each month. When you are just starting out, you may have little or no debt to your name. This is a great financial position to be in.

Your Credit Rating Is a Blank Canvas

Furthermore, your credit rating is not formed yet. You do not have any blemishes that you need to worry about erasing. Starting on neutral ground is much better than having to work hard to correct negative events on your credit rating. With this in mind, you are already in a better position than those who have negative events on their credit report.

You Can Apply for Credit Strategically

While you may not have debt or a credit rating yet, you certainly want to work hard to establish a high credit score. Credit, after all, can help you to obtain a great rate when you apply for a car loan, a home loan or more. It also may be reviewed when you apply to rent a home, apply for a new job or purchase insurance. You can take out one or two loans very strategically to establish credit. Ensure that these debts are affordable for your budget, and avoid falling too heavily in debt. Be sure to ask for specials. Companies like BlueSky Auto Finance, and some banks, often have special offers for first time buyers/borrowers or people with no credit history. These deals can help to keep your finances in a good place.

Most people will benefit substantially by having a higher credit rating. While you may not have a credit rating yet, this is not necessarily a setback. You are in a great starting position for establishing a solid credit rating right from the start. Take time to review your loan and credit card options as a first step, and open only a few accounts strategically to get off on the right foot.

Tim Esterdahl

Find Us on Social Media

Get ready for #WednesdayWishlist! Tomorrow from 8:30am-11:30am we'll be doing our FREE drive-thru for fresh produce (pictured) and gallons of fresh cold milk. 3370 S Irving St Englewood CO 80110. No Appointment Necessary! ... See MoreSee Less

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Incredible! Robyn with Englewood Lions Club and Cockriel Insurance brought by 57 hand made masks. They are made with such care and attention. We will be distributing them as part of our Ready, Set, School! program ... See MoreSee Less

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IFCS On Twitter

Did you know our #freshproduce changes weekly? Come by this week to grab yours! #nonprofit #freefood #englewood #denver #littleton

We LOVE hearing from families we helped. Thank you Deborah for posting this review of our services. We are so happy we could help!!


When: Sunday June 28, 2020, 11am to 2pm

Where: Clement Park, 7306 W. Bowles Ave Littleton, 80127

What: A Contact-less Food Drive to benefit the IFCS. Non-perishable, hygiene, and paper product grocery items will be collected.

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IFCS follows the USDA non-discrimination policy. Learn more by clicking here to read the statement. (PDF)