I moved to the U.S. in January 2012 from Canada. I obtained a Social Security number and got a secured credit card, and I was lucky enough to get a car loan. I have been paying both accounts on time every time. This all occurred in February and March and still I have no credit report. When can I expect to have a credit report? I tried today, and Experian is still not showing any information for me.
If the companies that opened your accounts report to the credit reporting agencies you very likely would have a report by now. It appears that they do not report to Experian.
Secured credit card accounts sometimes are not reported to the national credit reporting companies so may not result in the immediate establishment of a credit history. If you manage your the account well, the lender may after a period of time convert it into an unsecured account. The account may then be reported to the national credit reporting companies. We suggest that you ask your company about its policies.
Lenders are not required to report information to the national credit reporting companies, so it is possible that your car loan payments will not be shared. Before applying for an auto loan, it is a good idea to ask if the lender reports the payment information to be certain the new account will help establish a credit history.
If either of your lenders reports your account, it will immediately establish a credit report. However, it might not be possible to calculate a credit score, yet. Some credit scoring systems require approximately six to nine months of history before a credit score can be calculated.
Thanks for asking.
The “Ask Experian” team