credit report

Discussion in 'Nonsense Anything Boards' started by EMLANNA, Aug 23, 2010.

  1. EMLANNA

    EMLANNA Captian

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    can someone help with credit reports. what is the safest way to get credit reports? i need to get my daughters report done. we went on line to get report and it was unable to give us the report. kind of concerning, she is 19 and has no credit in her name yet and we want to establish credit for her. she has over 9k in the bank and no one will give her a credit card. what gives

    how do i estabilish credit for her?
     
  2. jagerhunchback

    jagerhunchback MCLMM

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  3. SEAKITTENKILLER

    SEAKITTENKILLER Go Fish

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  4. TopMpg

    TopMpg Member

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    Those are not government authroized web sites for credit reports. Government does not keep credit histories on people. On second thought, the government probably does keep that info but only on citizens.

    "AnnualCreditReport.com is a centralized service for consumers to request free annual credit reports. It was created by the three nationwide consumer credit reporting companies - Equifax, Experian and TransUnion."
     
  5. SEAKITTENKILLER

    SEAKITTENKILLER Go Fish

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    The Federal Trade Commission's Information on Free Annual Credit Reports

    Federal Trade Commission= Federal Law

    Unless I'm mistaken that is.
     
  6. OILAGER

    OILAGER Hecho en Estados Unidos

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    All the major credit reporting agencies are required by law to provide, when requested by the consumer, one free credit report each year. The major producers are Experian (formally TRW), Trans Union and Equifax. The companies that advertise getting your credit report free usually are trying to set you up with a credit monitoring program that has a monthly fee. Go to their websites (Experian.. et al) and they will guide you throught the process. Remember, it's free, so don't pay anyone a dime to access the report.

    The other thing I will say is that life begins at 18 yrs. old in the credit world. So, generally most young people will have to have a co-signer to start anything substantial in regards to credit. If your daughter doesn't currently have any type of open credit like store credit cards etc... then she'll come up "no record found" and will not have a FICO score. But, if your daughter moved in with some friends and put the cable tv or electric bill in her name and it forgot to get paid, or had a jaywalking ticket in Arizona that got blown off....then she'll have open collection accounts.

    The way to get credit before the credit companies started to come under more scrutiny was to apply for a small card at a dept. store etc.... use it a little, don't max it out, and wait for other offers to come in the mail. Most of the store cards are backed by major banks and once you get into their system you'll get an offer every day. This will take about six months to a year. The other way is a secured card backed by some money you put on account with a bank. You can only spend what you give them and they do report to the credit agencies. The best way is a co-signer, somebody that good enough credit and some faith in the borrower to back up th loans. It takes at least a year of credit reporting to start seeing an effect on a FICO score, so patience will be needed. Good Luck
     
  7. worldisyourz

    worldisyourz Newbie

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    Try applying for retail store credit. They are usually easier to obtain and will get here started.
     
  8. Fishbones

    Fishbones Your wife thinks about ME

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    If you are going to make a car purchase soon you can put her on the loan also. Within weeks she will be getting credit card offers.
     
  9. EMLANNA

    EMLANNA Captian

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    thank you All. great information.
     
  10. BillyFun

    BillyFun Newbie

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