If you're new to credit scores, you may sometimes be greeted with an 'NH' score. Don't be alarmed. 'NH' merely stands for 'NO HISTORY' and implies that you do not have a Credit History yet (or at least according to banking and TransUnion records). Basically, if you have not taken a loan or a credit card yet, the credit rating agency / credit bureau has no data on your credit habits and there is no basis on which they can evaluate your credit health. So, it's not really a negative.
However, it is always advisable to build a credit history by opting for credit products that you can easily manage and repay. Doing so will help create a good track-record, leading to a good credit score. So, when you are actually looking for finance in the form of a home loan, personal loan, auto loan, credit card, etc, you will enjoy a better chance of approval as well as be eligible for higher amounts and better rates. Watch this video to get a better perspective.
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