Credit Reports Renters
2010
For some reason, I have NO credit?
I am 22 years old. I have been banking at a credit union for 3 years or more. I have lived in numerous apartments all being under my name, never being late on a payment. But for some reason, I can’t even get a Gap or Walmart or ANY type of credit card. Free credit reports state my “file is too thin” that I don’t have any credit. WHOA. I should have credit by now! I can’t even apply and receive even the simplest credit card to build it-I keep being declined. Is this normal? Who do I contact to find out if all my renter credit and such is going onto the right person? I am worried that I am “linked” to someone else’s credit report, and thats why mine is empty.
Bank accounts, rent, utilities, and similar monthly bills are not extensions of credit and are not reported to the credit bureaus unless you default and the debt goes to collections. The collection agency reports the defaulted debt to the credit bureau.
You have no credit report because you don’t have an loans or credit card history. You should apply for a credit card at your credit union. You have a good history there and they should be willing to give you a credit card. You may have to get a secured card (you pay a deposit which is held as collateral against the line of credit). Use the card and pay the balance in full every month. In about a year, you should be able to convert a secure card to a regular account or open a regular credit card.
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