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If I am on SSI would that make my FICO score bad?

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Anonymous
Not applicable

If I am on SSI would that make my FICO score bad?

I am on SSI but me and my fiancee are looking for a place to live. We just had a baby. I am in the americorps program so I get a government stipened so I make around 1000 dollars a month and she just got a telemtry job at a hospital but has really bad credit due to an ex husband. So we were wondering if my credit could get us a place. I am on the lease with my grandmother for the apartment I live in. I have been for about a year and I haven't missed a payment. I pay half the rent and half the utilities. As far as I know I have nothing against my credit. Would I be able to obtain a fico score? I know when I went to annualcreditreport.com for some reason they wouldn't show me my report and im not sure why so I asked for one over the phone and should receive it within 15 days but we don't have much time. We need to move asap. There is no point in paying application fees if I don't have the credit. Any help would be appreciated. Thank you.

 

Also is there any cheaper way to obtain my fico score or is the 15.95 with 25% discount the cheapest I will find?

Message 1 of 5
4 REPLIES 4
Lel
Moderator Emeritus

Re: If I am on SSI would that make my FICO score bad?

Hello xsquader, and welcome to the FICO forums.

 

The FICO score does not take into account your income or your source of income.  You read more about what comprises a FICO score here:

 

Credit Basics

 

Credit scoring 101

 

 

As far as I know, using that 25% off coupon on this site is the cheapest way to purchase a true FICO score.  Sometimes there are coupons for a larger discount, but the base price of ~$16 is always the same.

Message 2 of 5
marty56
Super Contributor

Re: If I am on SSI would that make my FICO score bad?

I don't know what state you are in but in Texas, there are programs to help low income people obtain a good apartment.  It doesn't seem fair but paying rent, utlities and cell phone, all of which require a credit check, do not help your credit history/FICO score. 

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 3 of 5
Anonymous
Not applicable

Re: If I am on SSI would that make my FICO score bad?

Thank you for the help. Yes I found that out late last night. It hurts you when you don't pay but doesn't help you when you do and yes it doesn't seem very fair. THey also do have programs here for low income families but they are mostly booked or have 8-12 month or more waiting lists. I live in Virginia. So I am not sure what we are to do but I did open an account at my local credit union today and got approved for a 250 dollar credit card. I am going to try to get some credit. I currently have none and I will use the credit card solely for establishing credit. I have always been a disciplined spender. I don't spend what I can't afford so I am not worrying about that but this is the first step I am taking to establish my credit.

Message 4 of 5
Jazzzy
Valued Contributor

Re: If I am on SSI would that make my FICO score bad?

Hi, and welcome to the forums. It sounds as if you have a head on your shoulders. You will find that building a good credit score will help make things easier in life...regardless of your income.

 

Do some reading and research here in the forums. You will learn a lot, and you may be able to help your fiancee to clean up her reports.

 

Good luck.

Message 5 of 5
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