Posts Tagged ‘ establishing credit ’

Why it is important to establish credit when you are young

Dear Experian, Why is it important to establish credit while you're young? If I don’t establish any credit will it affect my future and why? - OZY

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Moving from Canada to the U.S.

Dear Experian, 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. -BMR

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Application declined because credit score can’t be calculated

Dear Experian, I am trying to get a loan and am being denied because your company won’t list a score on me. Why? - LRT

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Individuals cannot report their own accounts

Dear Experian, How do I submit payment history for an account not listed on my credit report, therefore, adding a new account? - CRT

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Recent college graduate may not have a credit report

Dear Experian, What should I do if I cannot be found in your system? I am trying to obtain a credit report since I have just graduated college and would like to start building credit. - AGB

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Qualifying for new credit when you have no credit history

Dear Experian, I have no credit score and am unable to get credit for a car loan. How do I get a credit score? I have my own apartment and am paying all utilities. Will that help? If so how long does it take, or where should I start? - KNY

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Time is necessary before credit score can be calculated

Dear Experian, My husband and I recently purchased a used car. He makes an annual income of $63,000 and I am a full-time, unemployed student. Because he had zero credit and I had student loans on creating a small credit score, we were only able to sign jointly for the car. He was told being the co-signer would be a great way to start earning credit. He's tried to get a credit card but continues to be denied for lack of credit. We've had the car now for four months and all payments have been on-time. We just ran his credit looking at refinancing the car to a lower interest rate and the account is there, but he still does not have a credit score. Our bank suggested contacting you to see how long it takes before he will begin earning a credit score. - CJF

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Improving credit score without credit card

Dear Experian, How can you improve your credit score if you don't have any credit cards? - HQB

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Reestablishing credit after moving from Canada

Dear Experian, I recently moved here from British Columbia, Canada, and when I apply for a credit card here you deny it because you say my credit information is not available. How may I make my Canadian credit record available to you so I may start a credit history here with an American credit card? - LLY

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Adding daughter as authorized user can help build credit history

Dear Experian, Will adding my responsible adult daughter (age 24) as an authorized user to one of my credit card accounts help to build her credit? - CCA

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Paying off a debt early won’t help credit scores

Dear Experian, I have a friend who took out a personal loan just so she could build up her credit. She's nearly 40 with no credit. She still has six months of payments to make on it. I was wondering if it is bad to pay it off early or does that help her? - JNS

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Adding new spouse as authorized user can help build credit history

Dear Experian, My wife had no credit history before we were married. I set her up as authorized user for a couple of my frequently used credit cards. Does this help her build up her credit history? - HNA

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Why banning access to credit for students is a bad idea

Dear Experian, I currently have no credit history and graduated from college last year. I have applied for two credit cards four months apart and got denied for both due to insufficient credit references and revolving credit accounts. I really want to establish my credit for the future. What can I do to get approved the next time? Also, is there anything else I can do to start building my credit? - ASA

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Why high school students do not have a “beginning credit score”

  • November 24th, 2010
  • Posted in Featured

Dear Experian, I teach seniors in high school. They want to know what a beginning credit score would be if you've just turned 18 and you are applying for your first credit card. - RRY

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Secured credit card could help build a positive credit history

Dear Experian, Will a secured credit card establish and built a credit score for my 19-year-old son? - WND

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Being a cosigner can help build your credit

Dear Experian, I currently have no credit. Not bad credit, no credit. I am interested in purchasing a new vehicle and a family member has offered to cosign. However, we've been offered zero percent interest because of her excellent credit but only if she's the primary and I cosign. If we do this and I am the one who makes the payments monthly, will me being the cosigner give a positive effect and establish my credit? - SSL

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Helping child in college establish credit

Dear Experian, My college freshman daughter applied for a credit card, was declined, and then applied for a secured card and was also declined. How can I help her build credit? She obviously has no history, but I am concerned that the two denials are going to hurt her score. I am at a loss on how she can build her own credit. - UAR

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