when i apply for a loan it says..they want 2 years of credit history...how do the figure that out?
so if i have a store card...and i make payments for 2 straight months...having a 0 balance....then i don't use the card for months and months...is that only counted as 2 months worth of credit history?!?? or does it just depend on how many payments u make?!??
2007-12-29 14:59:37 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
well if you try to apply to get an apt. or loan ...they will say 2 years of credit history.....
2007-12-29 15:21:46 · update #1
yeah I should ask....
2007-12-29 15:22:35 · update #2
Two years is 24 months. Don't over analyze it.
If you have a credit card 4 months, it's 4 months whether you charged anything every month or not.
2007-12-29 16:15:18 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋
I have noticed on a lot of credit applications there are some blanks you should leave blank. These are blanks the loan officer will fill in. This might be the case. But 2year history means 2years history not accounts that are two years old or older. so list all account that you have had in the last two years.
2007-12-30 01:24:05 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It will depend on the creditor. Some creditors report as long as the card is open, others only report as long as there is a balance. However, when you say "they" want two years credit history, that could mean a lot of things.... Maybe "they" want more than one tradeline? Maybe they just want to see something opened two years ago? Every creditor is different with different underwriting criteria. You would be best in asking them directly in what they want.
2007-12-29 23:12:48 · answer #3 · answered by Justme 1 · 0⤊ 0⤋