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Credit bureau says i have no credit?
That's right, zero. I have had my discover card a little over a month. I'm 20. This is my first card
Before this I wrote out checks sometimes and I have a debit card. When I received my credit card it came with a letter stating my current credit score, around 800. I use my credit card a few times a month, monthly balance always under 20$. I pay the balance off in full a few days before the monthly payment is due. However, I applies for a loan a week ago at my bank and they told me the credit bureau told them I don't have a credit history at all.
What's going on?
So I do not have credit at all even though I have written out checks? I have heard that debit cards don't build credit. I re read the letter from discover, and it clearly said my score was 800 something. Unless they just told met hat. Do you think I'll have credit around March 1st? I need to have a good credit score by then.And could someone tell me what is considered a good score? And what number an apartment complex will take for the guarantor?
7 Answers
- SPIFIMAN1Lv 79 years agoFavorite Answer
If this is the only credit card you have ever had and have no other lines of credit there is no possible way to have a credit score of 800.
It takes at least 6-months of payments to generate a score of any kind other then a 0.
Source(s): Finance Manager for over 11-years, 2011 edition Consumer Action Handbook. - Anonymous9 years ago
A lot of the times credit card companies hold out before they report. Call Discover first and request they report to Experian. As far as an apartment, they usually don't care for your credit score. They just want to make sure you owe no debt to another complex.
Good luck :)
- Monte PLv 79 years ago
>>When I received my credit card it came with a letter stating my current credit score, around 800.<<
You obviously misread that. The only way you can have an 800 credit score is if you have a long history of paying your bills on time, and have a wide variety of credit use (including credit cards, loans, mortgages, etc).
- 9 years ago
You only have a credit score when the company that issued you credit reports your account to the credit bureau. They usually report accounts every 3 months, but it varies by company. Contact discover and see if they will report sooner.
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- Calvin CLv 79 years ago
if discover is your first credit and you had a month there is no way you have an 800 CS you read the material wrong. you are not getting a personal loan for at least 6 months after getting a CC either
- coldfuseLv 79 years ago
My great aunt never had any credit. Never paid the bank a dime. I'm not so sure that isn't the way to go!
