Why Not Everyone Has a Credit Score—and How to Get One

Not everyone has a credit score. Chief Credit Officer, Ellen Falbo, shares helpful insights in this episode of credit corner.

In some states, loans available through Possible Financial Inc. dba Possible Finance are issued by Possible Financial Inc. In other states, loans available through Possible Finance are issued by Coastal Community Bank. Loan terms are subject to eligibility. The information provided is for general, non-personalized educational purposes only.

Transcription

More in this series

The most common reason credit scores drop

Andrew, a Possible member since 2021, is looking for a straight answer about what most often causes credit scores to fall. Ellen Falbo, Chief Credit Officer at Possible, names the single event that hurts scores the most and explains the life situation that usually triggers it.

How to plan for your future and get out of debt in midlife

Tiandra, a Possible member since 2024, asks Ellen Falbo, Chief Credit Officer at Possible, where a middle-aged woman should even start when it comes to getting out of debt. Ellen gets it. She offers a starting point that goes against what most of us were taught: put yourself first, before the debt.

Why Your Credit Score Varies by Bureau

Felycia wants to know why her credit reports never seem to match up. Ellen Falbo, Chief Credit Officer at Possible, explains how reporting delays, different scoring models and incomplete credit bureau data create those gaps. She also shares how Possible uses real-time cash flow data for a more current picture.

How Many Trade Lines Do You Actually Need?

Sharon wants to know how many credit accounts a person should carry. Ellen Falbo, Chief Credit Officer at Possible, shares the number she personally keeps on her own reports and explains why intentional credit use matters more than volume.

Why Credit Drops Fast But Builds Slowly

Lisa asks why one missed payment can destroy her credit score while months of on-time payments barely move it. Ellen Falbo, Chief Credit Officer at Possible, explains the predictive logic behind the imbalance and what it takes to prove a missed bill was a one-time event.

Why Paying Off a Loan Can Drop Your Credit Score

Shannen paid off her car loan and watched her credit score dip. Ellen Falbo, Chief Credit Officer at Possible, explains why closing a trade line can trigger a temporary drop and how long it typically takes to rebound.

Financial Literacy Class: Credit scores, budgets, and how to use both

Your credit score affects more than your ability to borrow money. It can shape your housing options, career prospects, and insurance rates. This session, led by CCO Ellen Falbo at our Full-Court Finance event, covers the credit ecosystem and three practical budgeting methods, with real numbers and concrete examples to help you take control of your finances.

What Credit Score Do You Need to Buy a Car?

Damion is trying to finance a vehicle and wants to know what number to aim for. Ellen Falbo, Chief Credit Officer at Possible, breaks down the specific thresholds that matter, from smooth approval to tighter terms to alternative options.

The Best Credit Habit You Can Build

Ellen shares the single most impactful credit habit you can develop, plus practical techniques to make it stick.

How to Start Saving for Retirement

Retirement savings can often feel out of reach. Ellen shares one habit that makes it manageable.

Credit Tips for College Students

One credit card, used responsibly. Ellen shares the habit that sets college students up for long-term credit success.

How do you start a budget?

Budgeting can feel overwhelming, but the first step is simple: look at where your money’s actually been going.

When’s the best time to pay your credit card bill?

Paying your credit card bill on time is key, but timing can impact credit bureau reporting. Our Chief Credit Officer, Ellen explains when it’s best to pay: before or by the due date.

Counter Offers Explained: We’ll Get You The Most We Can

Ellen explains how Possible determines your loan amount—and how every offer is designed to get you the most we can while keeping your budget in mind.