I have no credit

[911Freak]

Originally Posted by peppy

I did buy cars a 911 and a jetta financed both with this bank both were 3 year notes and I paid the 911 off in 26 months and the jetta in 18 months. I just haven't borrowed anything since.

That financing should be on your credit report! If it isn't you should ask them to report it to the credit bureaus as they will definitely solve your credit score! Seriously!

[peppy]

Originally Posted by 911Freak

That financing should be on your credit report! If it isn't you should ask them to report it to the credit bureaus as they will definitely solve your credit score! Seriously!

The bank told me if it is over 2 years old there is no score.

[911Freak]

Hmmm
It's not necessarily the "score" but rather your payment history that is important, your payment history, type of financing and length of payment history are what factor in to a score.

Sounds to me like they never reported it to the bureaus? If so they did you wrong, as without a doubt if you had ever missed a payment they would have reported that to the bureaus!

Credit financing, derogatory payment history (not that I'm saying you have any), liens, credit inquiries, open accounts etc all stay on your report for at least 7 years.

No one knows exactly the metrics the bureaus use for generating "scores" although there is a pretty good idea. With mortgage loans impacting the most, car loans, credit cards and education loans falling in 2nd. Cell accounts, Satellite TV etc falling in at the least supportive of credit worthiness...

Anyway, If they are telling you because your closed financing is older then 2 years and they never reported it, so there is no point in them reporting it now, that's one thing. (they still should have been reporting this all along)

However if you've had this financing with them payed off or not within the last 2 years and they didn't report it and are refusing to report it I call BS! Talk to the Bank Manager as they can report it. Are they willing to lose a good customer over this? Their answer will tell you a lot about them.

We use a tool called rapid re-score where we work with the credit provider and the bureaus to update, correct add credit history and/or correct mistakes on credit reports. Very effective and completely legit. Your broker has access to this through the company they use to pull credit reports.

Look into this, regardless if your loans with them were closed more then 2 years ago..

This is not good. They should have been reporting this to the bureaus from the moment they received your first payment on your car financing, no excuses!

I agree, unless they are willing to make things right, it's time for a new bank/credit union..

[peppy]

Thanks 911Freak, needed this kind of info.