No FICO Score?

[Anonymous]

I have a rather unique situation. Recently, I checked my FICO score, only to find out that it's nonreturnable. Let me give you some background... I work for an employer, which pays for my residence - the residence is a corporate home, which is owned by the company, I simply pay the utilities (H20 & gas). I am given an expense account, with a lot of room. I earn a healthy wage from my profession. Therefore, everything I have, I've paid cash, or my employer has given it to me - no strings attached. Additionally, I live well below my means.

That being said, I've had no need to take a like of credit with any bank, or credit union. To further add to the equation, I did not have student loans when I was in college, as my employer at the time, paid fully for my undergraduate and graduate degrees. I did have a Visa when I was in college; however, that was nearly seven years ago. Upon graduating, I fully paid the Visa and subsequently canceled the card; which brings me to where I am today...

Last year, I had an average FICO score of 690. This year, I have no score. I can see my credit history, I simply don't have a score to associate with the history. Furthermore, I have no debt to my name. I own everything I have in my life. Moreover, I'm 100 percent liquid, with the exception of some investments and an IRA.

I would like to take advantage of perhaps picking up a property/home as an investment, or for personal use. However, being that I cannot retrieve my FICO score, what am I to do?

Recently, I read that FairIsaac began making use of unrealized credit sources - namely an individuals liquidity. The name of the new service is FICO Expansion Score; however, I am uncertain how this pertains to my situation. Furthermore, with the subprime meltdown, as the Expansion Score is new to the industry, I'd presume that should a lender try to qualify my score making use of the Expansion Score, I would qualify for less, and most likely need to put more money down on a home, in order to lessen the risk on the loan.

I can't be the only person that has had this problem; however, I realize that I am the minority.

Please advise....

[Junejer]

Hello Isotope, welcome to the forum.

Given your situation, high liquidity, high income, low debt, I bet that you wouldn't have any problem going to your local bank (where you have all of your funds) and applying for and receiving a healthy line of credit for the purchase of investment properties. Try to see a commercial lender, as they understand these types of deals a lot better than does a consumer lender.