I had to have my mom cosign on an auto loan, my question is how long does it take to establish credit after you start making payments in your name. I also just paid a student loan off in full in my name last week that should help also right??
2006-07-26 15:03:14 · 3 answers · asked by robertspointe 1 in Business & Finance ➔ Personal Finance
It takes time. You can go to you bank and ask for a secured credit card, which is where you give them $500 (for example) and you spend the money using a Visa or something like it.
Ask them to make sure it gets reported to all three credit bureaus. You then have a credit line open, and you are likely to qualify because it's secured with cash, and it gets reported to the Credit agencies. But, you have to ask them to report it. Then use it for everything you buy and put money back on it. Do it for six months or so.
2006-07-26 17:18:39 · answer #1 · answered by zeezrom8 2 · 0⤊ 0⤋
Credit takes time to update, so last weeks payment will not register for a few weeks. Take a look at your credit score and make sure everything is accurate. Then speak with a QUALIFIED bank rep and ask how they would recommend getting the additional credit you may need. I would highly recommend a bank like Wachovia or Washington Mutual, don't go to Bank Of America - bunch of idiots!
2006-07-26 22:41:59 · answer #2 · answered by fastcarceo25 3 · 0⤊ 0⤋
check your credit score online. buy something small on credit pay it off .
2006-07-26 22:30:07 · answer #3 · answered by zocko 5 · 0⤊ 0⤋