What Do You Mean You Have No Credit History?

I would like to set the record straight what it means to have no credit history. When you run a credit report and "no credit history" whatsoever shows up and there is absolutely no bad credit such as collections, judgements, bankruptcies, foreclosures, repos, etc. then you have no credit. You can possibly qualify for a great FHA loan or zero down program if you have some non-traditional credit such as rent, phone, gas, electric, health club, car and health insurance accounts in your name and you have been making regular on-time payments. So don't make the mistake of thinking that you have no good credit means the same thing as having no credit history and most likely you will not qualify for any first time home buyer program with all bad credit on your credit report.