Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Social Security & Credit Line

Options
  • 05-07-2013 11:15pm
    #1
    .danindudlin
    Registered Users Posts: 79 ✭✭


    I'm just wondering if any newbies ever had problems with their details not showing up on systems? I've basically been told by almost all the phone companies that I dont exist despite the fact that I have a credit card in my own name attached to my social security number! SS was issued over 5 months ago, they've verified my number is active etc


Comments

  • Options
    #2
    Palmy
    Registered Users Posts: 350 ✭✭Palmy


    You probably don't have a credit score yet so when they are doing a search nothing is coming up under your name.
    It will take close to a year for your credit score to show up,once your credit card company reports your payment history.


  • Options
    #3
    Ponster
    Moderators, Recreation & Hobbies Moderators Posts: 10,912 Mod ✭✭✭✭Ponster


    I'm not sure how danindudlin could have the CC with zero credit history though.


  • Options
    #4
    Palmy
    Registered Users Posts: 350 ✭✭Palmy


    Your bank will give you a secured credit card to build your credit.
    I gave my bank $1500 for my secured credit card .After a year they payed me back the $1500 and left the balance as your new credit card debt.


  • Options
    #5
    ProudDUB
    Registered Users Posts: 11,569 ✭✭✭✭ProudDUB


    Everyone should have a credit score, even if its a bad one coz you are just starting out. OP, there are 3 major credit rating companies in the US, Equifax, Trans Union and Experian. Any company that you get credit from, will report your activity to at least one of those companies. That is how you build your credit score.

    It is possible that the credit card company are reporting your activity to only one of the 3 main credit bureaus. But if the phone companies are buying your credit score from one of the other ones, then you won't show up on their radar. Give the 3 companies in question a call. I'm sure you'll show up somewhere.


  • Options
    #6
    Ruu
    Closed Accounts Posts: 9,622 ✭✭✭Ruu


    It can take a while, 6 months at a minimum I believe. Have you been actively using the credit card? Making purchases, making payments, etc? Try taking out a small loan perhaps (something you know you can pay back), pay that back on time and that will help build a history.


  • Advertisement
  • Options
    #7
    Darren1o1
    Registered Users Posts: 744 ✭✭✭Darren1o1


    Ponster wrote: »
    I'm not sure how danindudlin could have the CC with zero credit history though.

    Some companies have card explicitly for this. E.g. Capital one does one for people with low/no credit.


  • Options
    #8
    iusedtoknow
    Closed Accounts Posts: 1,698 ✭✭✭iusedtoknow


    Darren1o1 wrote: »
    Some companies have card explicitly for this. E.g. Capital one does one for people with low/no credit.

    We got a normal credit card from BOA with 1500 credit-line straight away, they saw we had savings as well as a good enough salary from my company. It has so far kept creeping up every month

    Check creditKarma...it's free and gives you a slight idea of where you are at credit rating wise


  • Options
    #9
    rockonollie
    Registered Users Posts: 1,626 ✭✭✭rockonollie


    ProudDUB wrote: »
    Everyone should have a credit score, even if its a bad one coz you are just starting out.


    Incorrect, you need several months of payments reported to the credit agencies before any score shows up. I pull credit reports as part of my job and those that have just moved here, or young people that have no history of paying bills will not have any credit score....when we pull their credit, the agencies tell us that they have "no credit score due to limited or no history"


  • Options
    #10
    iusedtoknow
    Closed Accounts Posts: 1,698 ✭✭✭iusedtoknow


    rockonollie wrote: »
    Incorrect, you need several months of payments reported to the credit agencies before any score shows up. I pull credit reports as part of my job and those that have just moved here, or young people that have no history of paying bills will not have any credit score....when we pull their credit, the agencies tell us that they have "no credit score due to limited or no history"

    This goes against my experience.

    Within 2 months of paying my CC bill I was showing up on credit reports (experien and another, can't remember).

    Started @ 710 or 720....dropped to mid 60's and has been creeping up ever since.


  • Options
    #11
    rockonollie
    Registered Users Posts: 1,626 ✭✭✭rockonollie


    iusedtoknow wrote: »
    This goes against my experience.

    Within 2 months of paying my CC bill I was showing up on credit reports (experien and another, can't remember).

    Started @ 710 or 720....dropped to mid 60's and has been creeping up ever since.

    That's within 2 months....it can happen that quick, most time it takes much longer.

    I'm just saying that you don't automatically have one, there needs to be some history of payments before it appears.


  • Advertisement
  • Options
    #12
    Ponster
    Moderators, Recreation & Hobbies Moderators Posts: 10,912 Mod ✭✭✭✭Ponster


    I'm at 695 after 7 months.


  • Options
    #13
    iusedtoknow
    Closed Accounts Posts: 1,698 ✭✭✭iusedtoknow


    Ponster wrote: »
    I'm at 695 after 7 months.

    The problem we found was that even though we had a pretty good rating, we had no "depth" so ended up getting shafted on the car loan.

    We just re-financed with BOA and got a much better deal


  • Options
    #14
    rockonollie
    Registered Users Posts: 1,626 ✭✭✭rockonollie


    iusedtoknow wrote: »
    The problem we found was that even though we had a pretty good rating, we had no "depth" so ended up getting shafted on the car loan.

    We just re-financed with BOA and got a much better deal

    Another issue that I can't deny.....we turn down loans for customers with 700+ credit scores because their credit history is too short


Advertisement